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

The United States has announced a temporary waiver allowing countries to purchase Russian oil that is already at sea , in a move aimed at stabilising global energy markets and easing supply pressures amid rising geopolitical tensions.

The decision, announced by the United States Department of the Treasury , comes as global oil prices have climbed during the ongoing conflict in West Asia. The measure is intended as a short-term policy step to increase available oil supply and prevent further price spikes in international markets.

Earlier this month, the Donald Trump administration had granted a similar 30-day waiver to India , allowing it to continue purchasing Russian crude oil despite existing sanctions linked to the Russian invasion of Ukraine. The exemption was seen as a step to moderate energy costs and maintain steady supply flows.

Expanding on that approach, the new authorisation allows other countries to buy Russian oil cargoes currently stranded at sea due to sanctions-related disruptions. According to US officials, the waiver is narrowly tailored and temporary , applying only to shipments that are already in transit rather than new export deals.

Scott Bessent said the move was aimed at promoting stability in global energy markets while addressing broader geopolitical challenges . He emphasised that the measure would not significantly benefit the Russian government financially, noting that the majority of Russia’s energy revenue is generated through taxes at the point of extraction rather than at the stage of sale or shipment.

The temporary authorisation is also intended to offset supply disruptions linked to the escalating conflict involving Iran , which has added volatility to oil markets since late February.

US officials maintain that the policy is strictly short-term , designed to increase immediate oil availability in global markets while keeping pressure on Russia through existing sanctions.

By allowing the purchase of Russian oil already in transit, the United States hopes to ease global supply constraints, prevent further price surges and maintain stability in the international energy market during a period of heightened geopolitical uncertainty.