US issues 30-day waiver allowing Indian refiners to buy Russian oil cargoes stranded at sea

What exactly does the US waiver allow India to do?

It provides a 30-day authorization for Indian refiners to purchase Russian oil cargoes that are already stranded at sea, despite US sanctions on certain Russian oil entities Reuters,Guardian,Hindustan Times.

Why did the US say it granted this waiver?

Treasury Secretary Scott Bessent said the waiver is a deliberately short-term step meant to keep oil flowing into the global market amid current disruptions and tensions, and he characterized it as a stopgap measure BBC,Guardian,Hindustan Times.

Does the waiver apply broadly to all Russian oil purchases?

No. Bessent said it only authorizes transactions involving oil that is already stranded at sea, and he argued this limits any significant financial benefit to the Russian government El Universal,Guardian,Hindustan Times.