US Official Comments on India’s Role in Russian Oil Trade

US Treasury Secretary Scott Bessent has said that India has behaved responsibly in the context of the Russian oil waiver, describing the country as having been “good actors” in managing its energy imports.

His remarks come amid ongoing discussions about global energy markets and the impact of sanctions imposed on Russia following the Ukraine conflict.

Balancing Energy Needs and Global Policies

India has significantly increased its purchases of discounted Russian crude oil since Western countries imposed sanctions on Moscow. Despite this, New Delhi has maintained that its energy imports are driven by national economic interests and the need to ensure affordable fuel for its population.

Bessent noted that India’s actions have not destabilised the global market and have instead contributed to maintaining a steady flow of oil supplies.

Importance of the Oil Waiver

The waiver allowing certain countries to continue importing Russian oil has been viewed by analysts as a practical step to prevent disruptions in the global energy supply chain. Restricting such trade completely could have led to sharp increases in oil prices worldwide.

India’s continued participation in the oil trade has helped keep supply channels active, which analysts say has played a role in moderating market volatility.

India’s Position on Energy Security

Indian officials have consistently defended the country’s decision to purchase Russian crude, pointing out that energy security and affordability remain top priorities. As one of the world’s largest oil importers, India relies heavily on global markets to meet its energy needs.

The government has also maintained that its oil procurement policies comply with international regulations and aim to safeguard domestic economic stability.

Global Energy Market Outlook

Experts say that cooperation among major energy-consuming countries will be crucial in maintaining market stability amid ongoing geopolitical tensions.

Comments from US officials acknowledging India’s role suggest a recognition of the complex balance between sanctions, global supply chains, and national energy requirements.