US has issued a temporary 30-day waiver to allow sale of Russian oil currently stranded at sea to India, according to a report citing two officials

• Officials say general licence only authorises transactions involving Russian oil already stranded at sea, unlikely to provide significant financial benefit to Russia.

The US granting a 30-day waiver to permit the sale of stranded Russian oil to India signals a potentially tactical maneuver in the ongoing geopolitical landscape. While this may not offer substantial financial relief to Russia, it could impact oil supply dynamics and affect global oil prices, particularly WTI, and related currencies, as traders evaluate the implications for energy markets.