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American Energy Secretary: Russia Oil Waiver via India is Temporary to Control Prices
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US grants India 30-day waiver for Russian oil to stabilize prices amid Iran Strait blockade
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CNBC TV18
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06-03-2026, 12:25
US grants India 30-day waiver for Russian oil to stabilize prices amid Iran Strait blockade
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US grants India a 30-day waiver to buy Russian oil stranded at sea, aiming to ease global supply pressures.
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Energy Secretary Chris Wright states this is a temporary measure to stabilize oil prices, not a policy change towards Russia.
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Decision comes after Iran's closure of the Strait of Hormuz disrupted global oil supplies, impacting India.
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US focuses on degrading Iran's capabilities, expecting Strait of Hormuz traffic to resume and energy prices to normalize.
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Treasury Secretary Scott Bessent confirms the waiver is a short-term move for market stability, limiting financial benefit to Russia.
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