West Asia crisis: Tharoor seeks diplomacy, US allows India Russian oil

Shashi Tharoor urges diplomacy to end the West Asia conflict impacting trade via the Strait of Hormuz. The US has granted India a 30-day waiver to buy Russian oil to ease energy supply pressure after a US-Israel strike on Iran.

Tharoor Pushes for Diplomacy Amid Escalating Conflict

Congress MP Shashi Tharoor pushed for diplomacy and negotiated settlement as the West Asia Conflict continued to escalate, hampering the trade through the Strait of Hormuz. Tharoor, noting that Iran has the capacity to close the Strait of Hormuz, hoped that it would relent and let the ships go through. "It affects us too because there have been a lot of consequences already... The sooner this war ends, the better for everyone... The need for diplomacy and for a negotiated settlement is very urgent... We'd be stuck like everybody else is stuck because Iran has the capacity to close the straits. Eventually, we hope that Iran will relent and let ships go through. But at the moment, I don't think India alone can do anything... India has already called for de-escalation and diplomacy, which are the only ways forward," he said.

US Grants India 30-Day Waiver for Russian Oil

Meanwhile, the US said it has allowed a 30-day waiver for India to purchase Russian Oil to meet its energy requirements. US Treasury Secretary Scott 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 authorises 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," he added.

India's Energy Security at Risk

The waiver comes at a time when India continues to face potential risks linked to energy supply disruptions in the Middle East amid escalating tensions in West Asia after a joint US-Israel military strike on February 28 on Iranian territory resulted in the death of its Supreme Leader, Ayatollah Ali Khamenei and other senior figures. India sources nearly 40 per cent of its oil imports from the region, with a significant portion transported through the strategically important Strait of Hormuz. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)