U.S. allows India to buy sanctioned Russian oil to ease global supply amid ongoing conflicts, according to Treasury Secretary Scott Bessent.

On Thursday, amid the escalating conflict with Iran, the U.S. said it was issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.

“President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil,” Mr. Bessent had said.