The US has temporarily allowed India to buy Russian oil stored in tankers at sea, announced US Treasury Secretary Scott Besant.
“The Treasury Department is issuing a temporary 30-day exemption allowing Indian refiners to buy Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government, as it only allows operations with oil already stuck at sea“, he wrote on social networks.
The license is valid only for products loaded onto tankers before March 5. The permit is valid until April 4.
According to the minister, the adopted measure will help relieve pressure on the global energy sector caused by the situation in the Middle East.
Besant expressed hope that New Delhi will increase its purchases of American resources.
In early February, US President Donald Trump canceled the additional 25% tariff on Indian goods, stating that in return New Delhi would agree to stop buying Russian oil.
The Indian authorities neither denied nor confirmed their agreement to these conditions. According to Foreign Ministry spokeswoman Maria Zakharova, there is no reason to believe that New Delhi has reconsidered its approach to cooperation with Moscow.
In March, the Indian publication Economic Times reported that Russia remained one of India's largest oil suppliers last month.