US President Donald Trump on Saturday followed up on previous comments by Treasury Secretary Scott Bessent about granting a 30-day waiver to buy Russian oil amid the Middle East conflict and its effects on global energy trade.
Aboard Air Force One on Saturday, Trump was asked if he was considering “any other steps” for India.
“If there were any, I would do it just to relieve a little bit of pressure … oil pressure,” Trump said in response.
Read also | Israel-Iran War: Will A New Supreme Leader Be Appointed Soon? Trump says…
“But there’s a lot of oil, we have a lot of oil, our country has a huge amount of it,” Trump said, without giving any further details.
Trump’s comments on Saturday come after Finance Minister Bessent on Friday announced a “temporary 30-day exemption for Indian refiners to buy Russian crude”.
While Bessent’s comments sparked a row in India, with Prime Minister Narendra Modi’s political opposition accusing his government of bowing to Trump’s whims, Indian officials rejected claims that New Delhi needed US approval for its energy needs.
Read also | US-Israel Iran War LIVE: Israeli strikes kill four in Beirut hotel
“India will buy oil from wherever it is available. Our oil purchases will not be guided by any empty slogans. India has never depended on any country’s permission to buy Russian oil,” a senior government official told PTI in response.
India is a ‘critical partner’
But Bessent also said the temporary waiver was a “transitional measure” to “relieve the pressure caused by Iran’s attempt to take global energy hostage.”
Bessent, who describes India as a “core partner” of the US, added that the Trump administration “fully expects Delhi to increase purchases of US oil”.
Subsequently, in an interview with Fox Business, Bessent added: “Indians were very good actors. We asked them to stop buying sanctioned Russian oil this fall. They did. They were going to replace it with oil from the US.”
“But to ease the temporary shortage of oil around the world, we have given them permission to receive Russian oil. We can lift sanctions on other Russian oil,” the finance minister said.
Read also | Iran hits radars that support US missile defenses
It was unclear whether Trump’s comments on Saturday indicated the US would sell Venezuelan oil to India in the near future.
Earlier, during a summit on India’s AI impact in 2026, US Ambassador to India Sergio Gor said talks are underway with Delhi about India buying Venezuelan oil through the US.
“On oil, there is an agreement. We have seen India diversify its oil. There is a commitment,” the US ambassador said.
“There is no shortage of energy in India”
India currently sources nearly 40% of its oil imports from the Middle East, with a significant portion of the trade taking place through the strategically important Strait of Hormuz.
Now, with the conflict in the Middle East halting commercial traffic in the Strait of Hormuz, India has been forced to reconsider.
According to news agency ANI, citing government sources, Delhi reviews its energy situation twice a day and is in a very comfortable position when it comes to energy security.
The current position of Indian stocks is also seen as comfortable, ANI reported, adding that stocks were replenished every day.
Read also | US-Israel, Iran war: Trump wants ‘great, acceptable’ leader for Tehran
New Delhi currently has access to larger energy supplies from diversified sources than could potentially be affected by the Strait of Hormuz, the report added, citing people familiar with the matter.
Existing stocks of crude oil and petroleum products in India are also sufficient to meet domestic demand, the report said.
Petroleum Minister Hardeep Puri also said on Friday that there is no power shortage in India and consumers have no reason to worry. The minister discussed with the media various aspects of India’s uninterrupted power imports despite geopolitical challenges.
“Our priority is to ensure availability of affordable and sustainable fuel to our citizens and we are doing so comfortably. There is no shortage of energy in India and our energy consumers need not worry,” Puri wrote on X.
