Trump clears waiver for India to purchase Russian oil to stabilise energy markets: White House

Washington: The White House said that President Donald Trump personally approved a temporary waiver allowing India to purchase Russian oil as part of a broader effort to stabilise global energy markets amid disruptions caused by the ongoing US military campaign against Iran.

The decision was taken after consultations between the President, the Treasury Department, and members of the national security team, White House Press Secretary Karoline Leavitt said.

“The President and the Secretary of the Treasury and the whole national security team came to this decision because our allies in India have been good actors and have previously stopped buying sanctioned Russian oil,” Leavitt told reporters in response to a question.

She said the temporary measure was meant to address disruptions in global oil supply triggered by the crisis surrounding Iran.

“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 that Russian oil,” she said.

Leavitt noted that the shipments involved had already been dispatched before the waiver was granted.

“This Russian oil was already at sea, it was already out on the water,” she said.

According to the White House, the administration does not expect the arrangement to significantly benefit Moscow financially.

“So this short-term measure, we don’t believe it will provide significant financial benefit to the Russian government at this time,” Leavitt said.

The remarks came as the White House provided updates on Operation Epic Fury, the US military campaign targeting Iran’s missile infrastructure and naval capabilities.

Leavitt said the operation had achieved rapid progress since it began ten days ago. “More than 5000 enemy targets have been struck so far,” she said.

She added that Iran’s ability to retaliate had sharply declined.

“Iran’s ballistic missile attacks are down more than 90 per cent, and their drone attacks are down by approximately 35 per cent since the start of Operation Epic Fury,” Leavitt said.

US forces have also targeted Iran’s naval assets.

“We have destroyed more than 50 Iranian naval vessels, including a major drone carrier ship,” she said, adding that the Iranian navy has been assessed as “combat ineffective.”

The administration said the operation’s goals remain unchanged.

“The stated objectives for Operation Epic Fury remain the same: destroy the terrorist regime’s ballistic missiles, raise their Iranian missile industry to the ground, ensure their terrorist proxies can no longer destabilize the region, and ensure that Iran never obtains a nuclear weapon,” Leavitt said.

The White House also stressed that the United States would ensure the continued flow of energy through the Strait of Hormuz, one of the world’s most critical oil shipping routes.

Leavitt said President Trump had reiterated his commitment to protecting energy supply routes.

“President Trump reiterated his commitment toward keeping oil flowing through the Strait of Hormuz so the United States and all of our allies can receive their energy needs,” she said.

She added that the administration had already taken steps to stabilise energy markets.

“Thus far, the Trump administration has offered political risk insurance to tankers operating in the Gulf,” she said.

Officials also said the US Navy could escort tankers if necessary to keep the vital waterway open.

-ANS