• Source:JND
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India-Russia Oil Trade: The Trump administration may extend a waiver allowing the purchase of banned Russian oil and petroleum products. The US Treasury Department granted a 30-day waiver for the purchase of Russian oil and marine products in the second week of the American-Iranian war, which expires on April 11. 

100 million barrels of Russian crude oil will enter the market

This waiver is part of efforts to control global energy prices during the US-Israeli war with Iran. Russian President's special envoy Kirill Dmitriev stated that this waiver will bring 100 million barrels of Russian crude oil to the market, equivalent to approximately one day of global production.

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A source, speaking on condition of anonymity, said that US Treasury Secretary Scott Bessant met with Trump at the White House on Thursday to discuss extending the waiver, and both agreed it was a good idea. However, the official confirmation is awaited.

30-Day Waiver To Buy Russian Oil

Earlier, the US "temporarily permitted" India to "accept" Russian oil already on ships to ensure energy supplies amid the conflict in the Middle East. Underlining that America's allies in India are "good actors". Trump, Treasury Secretary Scott Bessent and the whole national security team "came to this decision because our allies in India have been good actors and have previously stopped buying sanctioned Russian oil", White House Press Secretary Karoline Leavitt told a press conference.

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"So as we work to appease this temporary gap of oil supply around the world because of the Iranians, we have temporarily permitted them (India) to accept that Russian oil. And this Russian oil was already at sea," she said while responding to a question on the US issuing the 30-day waiver to India.

Leavitt's 'Good Actor' Remark Draws Sharp Criticism In India

Leavitt's comments drew sharp criticism in India, with the Congress saying that her remarks were a "capitulation certificate" to Prime Minister Narendra Modi. "After the US Treasury Secretary, it is now the turn of President Trump's press secretary to give Mr Modi a capitulation certificate," Congress general secretary in charge of communications Jairam Ramesh said.

Amid the criticism, US Ambassador to Delhi Sergio Gor said that India has been a "great partner" in maintaining stable oil prices around the world.

(With Agencies Inputs)


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