Bessen: Temporary permission granted for India to purchase Russian oil stranded at sea

U.S. Treasury Secretary Bessenter stated that the Treasury Department issued a 30-day temporary waiver to allow Indian refiners to purchase Russian oil, ensuring a continued flow of oil into the global market. This temporary measure will not bring significant economic benefits to the Russian government, as it only approves transactions involving oil already stranded at sea. We firmly believe that India will increase its purchases of U.S. oil, and this temporary measure will alleviate pressure from Iran's attempts to hijack global energy supplies. (Jinshi)