US gives India 30-day waiver to buy Russian oil amid Iran war

India has received a temporary reprieve from the United States as the West Asia conflict begins to shake global energy markets. Washington has granted New Delhi a 30-day waiver allowing it to continue purchasing Russian crude oil despite existing restrictions.

The move comes as the widening
war involving Iran threatens oil shipments and raises fears of supply shortages worldwide. The short window is meant to help India secure fuel supplies and stabilise its energy needs during the ongoing crisis.

According to reports, the waiver was issued through a special licence by the US Treasury. It allows certain Russian oil sales to India for a limited period while markets deal with the disruptions triggered by the conflict.

United States Secretary of the Treasury Scott Bessent tweets, “… To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil… India is an essential partner of the United… pic.twitter.com/yjwjxbWcs2

— ANI (@ANI) March 6, 2026

War disrupts global oil flows

The Iran war has already begun affecting energy supply chains. Strikes across the region and rising tensions around the
Strait of Hormuz—a crucial maritime chokepoint—have unsettled global oil markets.

For India, the situation is particularly sensitive. The country relies heavily on imported crude, with a large share of its oil supplies normally coming from West Asia. Any disruption in Gulf shipping routes can quickly impact availability and prices.

Industry sources say Indian refiners have already begun securing additional Russian crude to offset potential shortages from West Asia. In recent days, refiners have been negotiating purchases of millions of barrels of Russian oil for deliveries over the coming weeks.

Follow our Live coverage on the Iran war for all the latest developments 

Balancing geopolitics and energy security

The decision also reflects the complicated balancing act India faces. In recent months, New Delhi had reduced Russian oil purchases amid pressure from Washington and broader geopolitical tensions.

However, the sudden escalation in West Asia has forced governments and energy markets to adapt quickly. With global supplies tightening and shipping routes under threat, ensuring steady fuel availability has become a priority.

For now, the 30-day waiver offers India some breathing room as it navigates the dual challenge of managing energy security while maintaining diplomatic ties with both the United States and Russia.