US decides not to renew Russian, Iranian oil waivers; India probably to be impacted
Washington: A move that is likely to impact India, the United States (US) has confirmed that it is not planning to renew a waiver to allow countries procure Russian and Iranian oil, and petroleum products at sea.ย In an interview with The Associated Press on Friday, US Treasury Secretary Scott Bessent said the waiver was only given on request of the "vulnerable and poor countries", pointing out that "Russian oil on the water has been largely sucked up".ย โNot the Iranians,โ Bessent said. โWe have the blockade, and thereโs no oil coming out.โย โAnd we think in the next two,…