Article #256224

‘Stopgap measure’ designed to keep oil flowing into global market as Middle East crisis disrupts crude shipments

The US treasury issued a 30-day waiver on Thursday allowing India to buy Russian oil currently stuck at sea.

“To enable oil to keep flowing into the global market, the treasury department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil,” treasury secretary Scott Bessent said in a statement posted to social media.