The US Secretary of the Treasury assured that this decision will not provide significant financial benefits to Russia.
In connection with the conflict in Iran, the United States has suspended sanctions against Russian oil and the shadow fleet for a period of one month, but only for India. The White House granted permission to India to purchase Russian oil that has already been loaded onto tankers, which is expected to help alleviate the oil crisis caused by the war in the Persian Gulf, according to the BBC.
According to US Treasury Secretary Scott Bessent, "this intentionally temporary measure will not provide significant financial benefits to the Russian authorities, as it only allows transactions for oil that is already at sea."
India and China have become the main buyers of sanctioned Russian oil since the beginning of the conflict in Ukraine. However, prior to the onset of military actions in Iran, the United States used sanctions and tariffs to persuade India to suspend oil trade with Russia. As a result, significant volumes of oil remained on tankers waiting for new buyers.
Analysts note that India, even without the lifting of sanctions, would have resumed purchases of this oil for two main reasons.
First, this country will suffer more than other major economies from the US conflict with Iran, as almost half of all its imported oil comes through the Strait of Hormuz, and India has virtually no strategic reserves. While China has accumulated reserves that allow it to completely replace oil imports within 3-6 months, India has reserves for only a few weeks.
Second, India had only recently stopped large purchases of cheap Russian oil, and it already has established schemes and connections with Russian suppliers and the shadow fleet, which will allow it to quickly restore this trade.
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