US Treasury Secretary Scott Bessent announced a 30-day waiver allowing Indian refiners to purchase Russian oil stranded at sea due to maritime route closures. This short-term measure aims to ease supply pressures amid the Iran war's impact on global energy markets. The waiver, expiring on April 4, does not relax US sanctions broadly but addresses an acute supply emergency. Indian refiners, including Reliance Industries, are expected to increase purchases of American crude post-crisis. Bessent is set to meet Chinese Vice Premier He Lifeng in Paris to discuss energy purchases and trade, amidst ongoing geopolitical tensions.