US Treasury Eases Sanctions in Energy Diplomacy Twist

US Treasury Secretary Scott Bessent has announced a temporary 30-day waiver to allow India to purchase Russian oil, a significant move aimed at stabilizing global energy markets amid the ongoing conflict in West Asia. This decision comes as part of the Trump administration's broader strategy to work with major oil producers, consumers, and refiners worldwide.

In a social media post, Bessent highlighted the shared goal of maintaining stability in the energy markets while ensuring safety and security. He expressed gratitude towards the U.S.'s international partners, noting a softer diplomatic approach compared to previous stances.

This waiver permits Indian refiners to buy Russian oil already stranded at sea, minimizing financial benefits to the Russian government. Bessent emphasized the temporary nature of this measure amidst criticism, with some accusing the U.S. of influencing India's foreign and economic policies.