Trade USA: India may buy Russian oil for a limited time
The USA is allowing Indian refinery companies to buy Russian oil. At least for a limited period of time.
06.03.2026, 04:39
06.03.2026, 04:42
SDA
His ministry is granting a 30-day exemption to ensure that oil continues to reach the world market, US Treasury Secretary Scott Bessent announced on X.
Russia, which is waging a war of aggression against Ukraine, should thus be able to increase its income from crude oil sales, at least in the short term. The US government played down this aspect. "This deliberately short-term measure will not give the Russian government any significant financial advantage," emphasized Bessent, as it only authorizes transactions with oil that has already been loaded onto tankers but not delivered. The Finance Minister spoke of a "bridging measure" that would ease the pressure caused by Iran's behavior.
Global energy markets suffer from war
The global energy markets are currently being severely affected by the war in the Middle East. The situation in the Strait of Hormuz, through which a large part of the global oil trade passes, is a particular cause for concern. Shipping traffic through the waterway has almost come to a standstill.
US President Donald Trump imposed punitive tariffs on India last year due to its oil deals with Russia in order to weaken the Kremlin's economic base in light of the ongoing war in Ukraine. However, Trump recently lifted the tariffs, stating that India had taken steps to stop importing Russian oil.
