US assures G-7 on limited Russia sanctions relief amid energy crisis. The Trump administration granted India a waiver to purchase Russian oil as energy prices surge due to the Iran conflict. EU officials expressed concern the move signals loosening restrictions on Moscow, particularly as Russian oil revenues face potential recovery from elevated global prices. US Treasury and G-7 partners emphasized the India waiver is temporary and narrow in scope, designed to have minimal impact on Russian oil revenues. Despite the relief measure, the US reaffirmed alignment with Europe's strategy to maintain economic pressure on Russia and prevent Moscow from leveraging high oil prices to fund its war efforts.
