US grants India-like waiver to other countries to buy Russian oil

WASHINGTON: (Mar 13) Amid rising oil prices, the Trump administration has announced a temporary authorisation to other countries to purchase Russian oil currently stranded at sea, as there were no immediate signs of an early end to the US war on Iran.

The US had granted a similar waiver from sanctions to India to buy Russian oil as part of efforts to cool down oil prices that have been on the rise since the outbreak of war on February 28.

“@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime,” US Treasury Secretary Scott Bessent said in a post on X on Thursday.