The U.S. Department of the Treasury lifted the ban on the purchase of Russian oil for Indian refineries for 30 days, reported U.S. Treasury Secretary Scott Bessent.
This decision was made to "ensure a steady flow of oil to the global market." "This deliberately short-term measure will not bring significant financial benefits to the Russian government, as it only permits transactions for oil that is already at sea," noted the minister, as reported by Meduza.
According to him, "this temporary measure will alleviate the pressure caused by Iran's attempts to seize the global energy market." Bessent also called India an important partner of the U.S. and expressed hope that it would increase purchases of American oil.
Reuters, citing sources, reported that Indian refineries are urgently purchasing millions of barrels of Russian oil due to a supply crisis caused by the war between the U.S. and Israel and Iran. The agency notes that India receives 40% of its imported oil through the Strait of Hormuz, which has effectively been blocked since the war began.
After the start of the full-scale Russian-Ukrainian war, India became one of the main buyers of Russian oil. In August 2025, Trump imposed additional tariffs on India due to its purchases of Russian oil. In early February of this year, the U.S. president announced that India had agreed to "stop purchasing Russian oil and buy much more from the United States." After that, he lifted the additional tariffs on India.
