US Grants India a 30-Day Permit to Buy Russian Oil Amid Iran Conflict

JAKARTA, KOMPAS.com - Geopolitical tensions in the Middle East are beginning to trigger shifts in global oil trade flows. The United States (US) has granted a temporary permit to India to buy Russian oil for 30 days, amid disruptions to energy supplies triggered by the Iran conflict and risks to the world’s main oil shipping routes. The decision was taken as the war involving Iran heightened threats to oil flows through the Strait of Hormuz, one of the world’s most vital energy corridors. The US government says the policy is temporary and aims to maintain stability in global energy markets. The US Treasury, via the Office of Foreign Assets Control (OFAC), issued a licence allowing the sale and shipment of Russian oil already aboard ships to India. Quoted from Channel News Asia, on Friday (6 March 2026), the licence, according to the US government, authorises the shipment and sale of crude oil and petroleum products from the Russian Federation loaded on ships as of 5 March 2026 to India. The US government emphasised that this temporary permission is issued to ensure oil supplies continue to flow to global markets amid geopolitical uncertainty. US Treasury Secretary Scott Bessent said the policy is not intended to deliver large gains to Russia. ‘To allow oil to continue flowing to the global market, the Department of the Treasury has issued a temporary exemption for 30 days to enable Indian refineries to buy Russian oil,’ Bessent said, quoted by The Economic Times. He added that the move is designed as a short-term solution. The US government also described India as an important partner in the bilateral relationship between the two countries. The grant of permission is not divorced from the increasing risk of energy supply disruptions due to the conflict involving Iran in the Middle East.