US grants waiver to allow India to buy Russian oil [View all]

https://www.bbc.com/news/live/ceqvwrydzpqt

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The US Treasury Department has temporarily eased sanctions to allow India to buy Russian oil currently stranded at sea.

Treasury Secretary Scott Bessent said the 30-day waiver will allow oil to keep flowing in the global market and "alleviate pressure caused by Iran's attempt to take global energy hostage".

The move is a "deliberate short-term measure" that "will not provide significant financial benefit to the Russian government" as it only involves oil already stranded at sea, Bessent said on X.
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Separately, China is in negotiations with Iran to allow ships carrying crude oil and Qatari gas safe passage through the Strait of Hormuz, Reuters reported on Thursday, citing anonymous sources.
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