New York/Washington, March 7 The US has said it has given "permission" to India to purchase Russian oil that is currently on ships floating on waterways, in an effort to ease supply shortages around the world amid the conflict in West Asia.
"The world has ample oil supplies. Yesterday, the Treasury Department agreed to allow our allies in India to begin purchasing Russian oil that was already on the water," US Treasury Secretary Scott Bessent said in an interview with Fox Business on Friday.
"The Indians have been very cooperative. We had asked them to stop purchasing sanctioned Russian oil this fall. They did. They were planning to replace it with US oil. However, to address the temporary oil supply shortage around the world, we have given them permission to accept the Russian oil. We may also lift sanctions on other Russian oil," he said.
