US Envoy Praises India's Role in Global Oil Market Stability

In a post on X, Gor wrote, "India has been a great partner in maintaining stable oil prices around the world. The United States recognizes ongoing purchases of Russian oil are a part of this effort. India is one of the largest consumers and refiners of oil and it is essential for the United States and India to work hand in hand for market stability for Americans and Indians."

Earlier, The White House Press Secretary Karoline Leavitt, during a media briefing said that the United States had "permitted" India to temporarily purchase Russian oil in the wake of the disruptions to global energy supplies amid the conflict in West Asia.

When asked whether she had spoken to the US President about oil-sanction waivers to India in the wake of the developing security situation in West Asia, Leavitt responded, saying that the decision comes as India has been a "good actor", and while the measure is short-term, it will not provide significant financial benefit to Russia.

"I have spoken to the President about it, and the Secretary of the Treasury and the whole National Security team came to this decision because our allies like India have been good actors and previously stopped buying sanctioned Russian oil. So as we work to appease this temporary gap of oil supply around the world, because of the Iranians, we have temporarily permitted them to accept Russian oil", Leavitt said.

Earlier, US Treasury Secretary Scott Bessent had announced the 30-day waiver given to India to purchase Russian oil amid the West Asia Conflict.

Meanwhile, in an effort to check any move by Iran to block the supply of fuel via the Strait of Hormuz, US President Donald Trump on Tuesday (local time) issued a sharply worded statement against Iran, calling on the country to refrain from placing mines in the Strait of Hormuz and warning of military consequences if they are not removed.

The US President said, "If Iran has put out any mines in the Hormuz Strait, and we have no reports of them doing so, we want them removed, IMMEDIATELY! If for any reason mines were placed, and they are not removed forthwith, the Military consequences to Iran will be at a level never seen before. If, on the other hand, they remove what may have been placed, it will be a giant step in the right direction! Additionally, we are using the same Technology and Missile capabilities deployed against Drug Traffickers to permanently eliminate any boat or ship attempting to mine the Hormuz Strait. They will be dealt with quickly and violently."

The developments follow amid an escalating security situation in West Asia, which has resulted in the conflict being now expanded beyond Iran, with Iranian retaliatory strikes--using missiles and drones--targeting U.S. military bases, embassies, and civilian/energy infrastructure in neighbouring Gulf nations, including the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, and Jordan.

- ANI