Washington DC [US], March 7 (ANI): Scott Bessent, the US Treasury Secretary, yet again said that the United States has given India the 'permission' to accept Russian oil in the wake of the developing security situation in West Asia.

In an interview with Fox Business, Bessent said, 'The Indians have been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil. But to ease the temporary gap of oil around the world, we have given them permission to accept Russian oil. We may un-sanction other Russian oil.'

With the crisis in the Gulf severely hampering shipping routes that pass through the Strait of Hormuz, the United States on Thursday (local time) allowed a 30-day waiver for India to purchase Russian Oil to meet its energy requirements.

Speaking at the moment, Bessent said, 'President Trump's energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea. India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran's attempt to take global energy hostage.'

India sources nearly 40 per cent of its oil imports from the Middle East, with a significant portion transported through the strategically important Strait of Hormuz.

Notably, according to sources, India is reviewing its energy situation twice a day and is in a very comfortable position regarding its energy security. India's current stock position is also seen to be comfortable, with stock being replenished every day.

As per the sources, there is no shortage of LPG or LNG, as well as crude oil, in the world.

Petroleum Minister Hardeep Puri on Friday said there is no shortage of energy in India and there is no cause of worry for its energy consumers. The minister discussed various aspects of India's uninterrupted energy imports despite geopolitical challenges with the media.

'Our priority is to ensure availability of affordable and sustainable fuel for our citizens, and we are doing it comfortably. There is no shortage of energy in India and there is no cause of worry for our energy consumers,' the minister posted on X.

According to the sources, the country currently has access to more energy supplies from diversified sources than the volume that could potentially be impacted through the Strait of Hormuz. India's existing stock of crude oil and petroleum products is also adequate to meet domestic demand.