PostEmailWhatsappCopy linkShareStringer/File Photo/ReutersThe US temporarily waived sanctions on Iranian oil that’s already at sea, boosting the war economy of the nation Washington is waging war against.
The move marks an effort to relieve pressure on global energy markets, as the conflict spurs major supply disruptions and sends prices soaring.
White House officials argue the waiver allows US partners to buy oil that China would have purchased anyway.
India is set to be a major beneficiary of the policy, and refiners are planning to resume Iranian crude purchases.
But the Strait of Hormuz closure continues to weigh on the South Asian nation: A cooking gas shortage has forced some hotels to shift to firewood, pushing up costs, The Times of India reported.