US grants India temporary waiver to import Russian oil amid Persian Gulf tensions. The Treasury Department issued a 30-day license allowing Indian refiners to purchase Russian crude loaded before March 5, expiring April 4. The measure covers only oil already stranded at sea and aims to stabilize global energy supplies disrupted by Middle East conflicts. This reversal marks a significant shift in Trump administration policy, which had previously pressured India to minimize Russian oil purchases through tariffs and sanctions. Treasury Secretary Scott Bessent emphasized the measure won't provide significant financial benefit to Russia. The waiver provides critical relief for India's refining sector while potentially reshaping Russian crude pricing dynamics and international trade flows.