US Issues India 30-Day Waiver to Buy Russian Oil Amid Iran Conflict

India has been one of Russia’s largest crude oil importers since the invasion of Ukraine.U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet in the Oval Office of the White House on Feb. 13, 2025. Andrew Harnik/Getty Images3/5/2026|Updated: 3/5/2026The United States has granted India a 30-day waiver to continue purchasing Russian crude oil, according to a Treasury Department notice issued on March 5.The short-term measure will not offer a “significant financial benefit” to Moscow, as the license only “authorizes transactions involving oil already standardized at sea.”