America gave exemption to India regarding Russian oil. Image:Republic
Russian Oil: Trump’s attitude towards buying Russian oil has softened amid the ongoing war with Iran. America has allowed India to buy oil from Russia. However, this permission has been given temporarily only for 30 days. America has said that this decision has been taken to maintain the flow of oil in the global market.
Actually, America itself was pressurizing India to stop purchasing Russian oil. Due to the closure of the movement of sea oil cargo ships through the Strait of Hormuz, the supply of crude oil is being affected across the world. In such a situation, America has given permission to India to buy crude oil from Russia to meet its energy needs.
Why was this decision taken?
“President Trump’s energy agenda has driven oil and gas production to all-time highs. To keep oil flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This intentionally short-term measure will not provide significant financial benefits to the Russian government, as it will only be tied to oil already trapped in the ocean,” US Treasury Secretary Scott Besant wrote in a post on X. Authorizes the transaction.”
He said that India is an important partner of America. We fully expect New Delhi to accelerate its purchases of oil from the US. This interim arrangement will help ease the pressure caused by Iran’s attempts to ‘hold’ global energy supplies.
Why were Russian oil tankers standing in the sea?
This decision of America is going to provide great relief to the Russian oil tankers stuck in the sea, because now they will be able to easily find buyers. According to reports, these Russian oil ships were stuck at sea because payment arrangements, insurance cover and other uncertainties due to new US sanctions made it difficult to offload their oil immediately.
America had earlier imposed very strict restrictions on Russian oil tankers, due to which many questions were raised regarding the insurance, payment system and port entry of these ships. Because of this, Indian oil refineries also started hesitating to buy oil from Russia lest this step be considered a violation of sanctions. As a result, many tankers were stuck at sea and waiting for a long time.
Now, after this temporary exemption given by America, the possibility of finding buyers for these stuck tankers has become stronger, especially for countries like India, due to which these ships will now be able to move forward.
India kept buying oil from Russia
In fact, after the start of the Russia-Ukraine war in the year 2022, India remained one of the largest buyers of Russian oil. Despite international pressure, India continued to buy oil from Russia to meet its oil needs. For this, America had also imposed 25% tariff on India.
Trade agreement between America and India in February 2026. Under this, America removed the additional 25% penalty tariff imposed on India. The total tariff imposed on India was reduced from 50% to 18%. In return, India has committed to stop or significantly reduce oil imports from Russia.
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