India Rushes to Buy Russian Oil While US Issues Emergency License During Iran Conflict

The United States Department of the Treasury has issued a 30-day license allowing India to purchase Russian oil that is already loaded on maritime tankers, according to Treasury Secretary Scott Bessent. The measure aims to stabilize global energy markets as military operations by the United States and Israel against Iran continue to disrupt supplies in the Middle East. According to Scott Bessent, the temporary exemption will increase the availability of crude oil while tensions in the region remain high.