Dem duo demands Treasury reverse waiver on Russian oil sales to India: Material benefit to the enemy

A pair of Democratic lawmakers are demanding the Treasury Department reverse a waiver allowing India to buy Russian oil – arguing the move provides “material benefit to the enemy” amid reports the Kremlin is aiding Iran.In a letter sent Monday to Treasury Secretary Scott Bessent, Rep.Sam Liccardo (D-Calif.) and Sen.

Ruben Gallego (D-Ariz.) blasted the Trump administration for last week issuing a 30-day waiver that allowed India to temporarily resume purchases of Russian oil.“Your recent decision to provide a 30-day waiver is dangerous, self-defeating, and indefensible,” Liccardo and Gallego wrote in a copy of the letter obtained by The Post.“This waiver constitutes an inexplicable act of material benefit to the enemy.”The temporary waiver is a sharp reversal from the US government’s earlier stance, which saw it briefly slap a 25% tariff on India as punishment for buying energy from Moscow – but authorities argued the exemption was necessary as the Strait of Hormuz crisis disrupts global oil supplies.Iran has cut off access to the vital maritime route, which transports 20% of the world’s oil supply – sending oil prices surging above $100 a barrel and national average gasoline prices to $3.48 a gallon on Monday, according to AAA.Bessent said the temporary waiver would not provide “significant” benefits to Russia, but would instead help stabilize oil prices as Tehran bottlenecks the key waterway.“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,” he said in a post on X last week.The Russian government generates most of its energy revenues from taxes imposed on oil when it is first extracted from the ground, not when it is delivered to buyers, a source familiar with the situation told The Post.The Treasury Department did not immediately respond to The Post’s requests for comment.After the US issued the te...