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'It's inevitable': What Trump official said on 30-day waiver to India for buying oil from Russia
Scott Bessent acknowledged the concern but said, “we hope that it will be in a micro period that they (Russia) will benefit.”
US treasury secretary Scott Bessent has described India’s continued purchases of Russian oil as “inevitable”, saying the decision to grant a temporary 30-day waiver to Indian refiners was driven by urgent supply needs amid energy disruption triggered by the West Asia conflict.
In an interview with Sky News journalist Wilfred Frost, Bessent said that the US administration allowed a 30-day waiver for Indian refiners who had earlier been prevented from buying Russian oil.
‘An inevitability’
Explaining the decision, Bessent said the waiver was necessary because Russian oil shipments were already in transit. “Well, I think it's an inevitability and that's why we gave a 30-day waiver—because the Russian barrels are on the water and it is a quick source for the Indian refineries. The other way to think about it is those barrels were going to end up in China anyway,” Bessent added.
When the host asked whether it was unfortunate that Russia could benefit from the war situation created after US-Israel joint operation in Iran, the US treasury secretary acknowledged the concern but said, “we hope that it will be in a micro period that they (Russia) will benefit.”
Trump administration's 30-day waiver to New Delhi
Earlier this month, Bessent had said that India would be allowed to resume purchases of Russian crude to stabilise energy supplies after the crisis in West Asia disrupted global oil flows.
The waiver allowing Indian refiners to buy Russian oil was signed by US President Donald Trump.
“Indians have been very good actors, they stopped buying Russian Oil when we ordered them, now we are allowing them to accept Russian Oil to create supply," Bessent told Fox News.
Gulf conflict disrupts oil supply
The move came amid a deepening crisis in the global energy market following the ongoing conflict involving the US, Israel and Iran in West Asia. Supply chains have been disrupted and key shipping route like Strait of Hormuz threatened.
The strategically important Strait of Hormuz is a key route through which roughly 20 per cent of the world’s oil and gas supply passes.
A large share of crude exports from OPEC producers — including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Iran — moves through the strait, primarily to Asian markets. Qatar also routes almost all its liquefied natural gas exports through the same waterway.
With supply lines under pressure, several Asian countries — including India — have begun exploring ways to conserve fuel and secure alternative supplies.
India had already been gradually reducing its purchases of Russian crude last year amid pressure from Washington, replacing those barrels with supplies from Saudi Arabia and Iraq. However, the widening conflict in the Middle East has disrupted those supply routes, prompting a renewed reliance on Russian oil shipments.
