The US has allowed India another 30 days to purchase russian oil

Bloomberg reports on this.

The document was published late in the evening on 5 March. It allows transactions with russian crude oil and petroleum products loaded onto ships before 5 March, provided they are delivered to India and purchased by Indian companies. The permit will be valid until 4 April at 07:01 (Kyiv time).

US Treasury Secretary Scott Bessent explained that the decision is temporary and necessary to keep oil flowing to the global market. According to him, this step will not bring significant financial benefits to Moscow, as it only applies to oil that is already at sea.

He also noted that the US expects India to increase its purchases of American oil. According to Bessent, the temporary permit should ease pressure on energy markets amid tensions in the Middle East.

Earlier, Bloomberg reported that, according to ship monitoring data, two russian oil shipments bound for East Asia had changed course to India, indicating that New Delhi is ready to accept russian oil amid the escalating conflict in the Middle East.

According to Kpler and Vortexa, two tankers carrying about 1.4 million barrels of Urals crude oil are to be unloaded at Indian ports this week, although they had previously indicated that they were heading further east.

Urals crude, loaded in the Baltic and Black Seas, was previously very popular with Indian refineries, but deliveries have slowed sharply this year due to US pressure on New Delhi to stop buying it.

According to data and reports from port agents, the tanker Odune, carrying 730,000 barrels, arrived on Wednesday in Paradip on India's east coast, although it is not yet known whether unloading has taken place. The tanker Matari, carrying more than 700,000 barrels, will arrive on Thursday in Vadinagar in western India.

The Indri, a Suezmax-type vessel in the Arabian Sea signalling that it is heading for Singapore, made a sharp turn north towards India this week with approximately 730,000 barrels of Urals crude oil on board, according to vessel tracking data.

All three vessels — Odune, Matari and Indri — were sanctioned by Britain and the European Union last year.

Source: Babel, Economic Pravda