India Receives 30-Day Reprieve on Russian Oil Imports from Washington

The U.S. Treasury Department has authorized a one-month grace period for Indian companies to finalize Russian oil deals for cargoes currently at sea. This strategic shift follows six days of strikes against Iran, threatening vital energy chokepoints like the Strait of Hormuz. Secretary Scott Bessent highlighted that record U.S. energy production under the Trump administration provides the flexibility to grant this waiver. While Washington has previously pressured New Delhi to reduce Russian imports, the current regional instability has forced a recalibration to prevent global price spikes and supply shortages.