US Grants India 30-Day Russian Oil Waiver Amid Escalating Iran War

• The waiver lets Indian refineries buy Russian oil that was already sitting on tankers.
• Washington said the waiver is short-term and targeted, meant to keep oil moving.
• The decision shows how the global financial system is slowly splitting apart.

The United States of America just gave India a 30-day pass to buy Russian oil, trying to keep global energy markets steady as tensions flare up in the Middle East.

Announced by the US Treasury, the waiver lets Indian refineries buy Russian oil that was already sitting on tankers before March 5. Most of that oil is currently stuck at sea because of the ongoing conflict in the region.

The decision comes as the war involving Iran has disrupted shipping routes through the Strait of Hormuz, one of the world’s most important energy corridors. With tensions rising, fears of supply shortages and higher energy prices are spread…

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