The United States previously applied political and economic pressure on India to discourage its purchase of Russian oil, which is viewed as funding Russia's ongoing war efforts in Ukraine. On Thursday, US Treasury Secretary Scott Besant announced that India has been granted a temporary 30-day permit for the procurement of crude oil from Russia. This measure is described as necessary for ensuring that oil continues to flow into the global market. Besant asserted that these short-term emergency actions would not provide significant financial benefits to Russia, as the permit would only allow the purchase of oil from tankers currently at sea.

Approximately 40% of India's imported crude oil comes from Middle Eastern countries via the Strait of Hormuz; however, due to the war and subsequent disruptions, shipping traffic through this critical global passage has virtually come to a halt. Following Russia's full-scale invasion of Ukraine in 2022, India became the largest buyer of Russian crude oil. However, in January of this year, Indian oil refineries reduced their imports from Russia in response to US pressure, illustrating the complex dynamics and challenges faced by India amidst global geopolitical tensions.