New Delhi: Donald Trump stated that the United States has granted India a 30-day temporary waiver allowing it to purchase oil from Russia. The move is intended to ease mounting pressure on India as well as the global energy market.
Trump explained that the decision was made solely to reduce immediate market stress. He added that the United States itself possesses abundant oil resources.
However, as India moved forward with purchasing crude, Russian exporters reportedly raised their prices further, potentially increasing the financial burden on India.
This development came a day after Scott Bessent announced that the United States Department of the Treasury would grant Indian refineries temporary permission to import oil from Russia.
