WASHINGTON: The United States has allowed India to temporarily increase purchases of Russian oil, easing earlier pressure as the conflict in the Persian Gulf disrupts global energy supplies.

A license issued on Thursday permits transactions involving Russian crude and petroleum products loaded onto vessels before March 5, provided they are delivered to India and purchased by an Indian company. The waiver will remain valid until April 4 at 12:01 AM Washington time.

US Treasury Secretary Scott Bessent said the 30-day waiver is intended to keep oil flowing in global markets and applies mainly to cargoes already stranded at sea. Officials say the short-term measure is unlikely to provide major financial gains for Russia.

The decision offers immediate relief to India’s refining sector, which has been affected by supply disruptions in the Middle East. More than 22 million barrels of Russian crude are currently unsold or held in idle tankers in Asia, with over 80 percent of the vessels located near Indian waters and the Singapore Strait.

India imports roughly 5 million barrels of oil per day, though only about one-fifth came from Russia in February, according to market data. Major suppliers such as Iraq, Saudi Arabia, and the United Arab Emirates have also faced disruptions due to restrictions around the Strait of Hormuz.

Analysts say the waiver may briefly ease supply pressure but will not offset the loss of as much as 20 million barrels per day of Persian Gulf exports if shipping through the Strait remains disrupted. Economists also warn that higher oil prices could widen India’s current account deficit and increase pressure on the Indian rupee, even as inflation remains below the central bank’s 4 percent target.