US Treasury Secretary Scott Bessent issued a 30-day waiver for India to purchase stranded Russian oil amidst ongoing tensions in the Middle East.
The Strait of Hormuz's closure has left millions of barrels of oil stranded, creating potential energy supply issues for India.
The waiver is aimed at alleviating immediate pressures on global oil supplies without significantly benefiting Russia financially.

India

country in South Asia

Russia

sovereign state in Eastern Europe and Northern Asia

Scott Bessent

American businessman

United States Department of the Treasury

United States federal executive department

United States of America

country primarily in North America

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