Overview
- U.S. Treasury authorized a 30-day waiver, effective March 5 to April 4, allowing Indian refiners to process Russian crude that was already on vessels before March 5 to ease short-term market strain.
- Treasury Secretary Scott Bessent called the step temporary, praised India as “very good actors,” and signaled Washington expects New Delhi to increase purchases of U.S. oil.
- Actor‑politician Kamal Haasan posted an open letter to President Donald Trump telling him to “mind your own business,” asserting that India is a free and sovereign nation.
- India’s government said energy supplies are secure, highlighting diversification of crude sources from 27 to 40 countries and stressing that purchases are made in the national interest.
- Coverage links the waiver to wider West Asia conflict disruptions and risks to shipping routes such as the Strait of Hormuz, which have raised concerns over global oil supply and prices.