Washington is softening its stance on India’s Russian oil imports to prevent a global energy crisis. A 30-day exemption has been issued for transactions involving oil shipments stranded at sea. With the Strait of Hormuz under threat from conflict in Iran, the U.S. aims to stabilize market prices and support its key partner, India. Secretary Bessent emphasized that this short-term measure targets only existing cargoes to avoid providing new revenue to Russia. India’s history of prioritizing energy security through discounted Russian crude remains a central factor in this diplomatic balancing act.
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