U.S. Issues 30-Day Waiver for India to Buy Russian Oil Amid Supply Disruptions

The move aims to ease global oil supply concerns as the Iran conflict impacts global markets.

Published on Mar. 6, 2026

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The United States has issued a 30-day waiver to India, allowing the country to continue purchasing crude oil from Russia. This comes as the ongoing conflict between the U.S., Israel, and Iran has disrupted global oil supplies, causing prices to surge. The waiver is expected to help alleviate supply worries, as India is a major refiner and exporter of petroleum products.

Why it matters

The waiver is a temporary measure to address India's energy security concerns, as the country relies heavily on imported oil and faces risks from supply disruptions. Around 40% of India's oil imports pass through the Strait of Hormuz, which has been a flashpoint in the U.S.-Iran conflict. The move also highlights the broader geopolitical tensions surrounding energy supplies in the region.

The details

The license issued by the U.S. covers transactions related to Russian crude oil and petroleum products loaded onto vessels before March 5, as long as they are delivered to India and purchased by an Indian firm. The measure expires on April 4. While the waiver is expected to provide some relief, U.S. officials have stated that it will not provide significant financial benefit to Russia, as it only allows for the transaction of oil already stranded at sea.

  • The 30-day waiver was issued by the U.S. on Thursday, March 6, 2026.
  • The waiver expires on April 4, 2026 at 12:01 a.m. Washington time.

The players

United States

The U.S. government issued the 30-day waiver to India, allowing the country to continue purchasing crude oil from Russia amid the ongoing conflict in the region.

India

India is the world's fourth-biggest refiner and fifth-largest exporter of petroleum products. The waiver is expected to help address the country's energy security concerns, as it relies heavily on imported oil.

Russia

Russia is a major oil exporter, and the ongoing conflict has disrupted global oil supplies, leading to price surges.

Iran

The U.S.-Israel vs. Iran conflict has been a key factor in the disruption of global oil supplies, leading to the need for the waiver.

Scott Bessent

U.S. Secretary of the Treasury, who stated that the short-term measure will not provide significant financial benefit to Russia.

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What they’re saying

“This 'short-term measure will not provide significant financial benefit' to Russia as it only allows transactions of oil already stranded at sea.”

— Scott Bessent, U.S. Secretary of the Treasury (X)

What’s next

The U.S. government is also taking additional steps to curb rising oil prices, including offering political risk insurance for tankers transiting the Gulf.

The takeaway

The 30-day waiver for India to continue purchasing Russian oil highlights the complex geopolitical dynamics surrounding energy supplies in the region. While the measure provides temporary relief, it also underscores the broader challenges in maintaining global energy security amidst ongoing conflicts and supply disruptions.