We are working with global oil producers, consumers to maintain stability in energy markets: US treasury secretary

New Delhi, Mar 8 (PTI) As the West Asia conflict strains the global oil supply chain, US Treasury Secretary Scott Bessent said the Trump administration is working with the world's largest oil producers, consumers, and refiners to maintain stability in the energy markets.

"The United States is the biggest and most powerful economy in the world. Under @POTUS' leadership we are working with the world's largest producers, consumers, and refiners to maintain stability in the world's energy markets while we eliminate threats to our safety and security," he said on social media.

"This is a shared purpose towards which we are all working, and we thank our international partners sharing this same goal," he said.

Bessent thanked the US's international partners for sharing the "same goal", in remarks that appeared to be reconciliatory and reflecting some softening of Washington's usual commanding tone.

The latest comments by the US treasury secretary were in contrast to his remarks referring to giving India a 30-day waiver to buy Russian crude oil.

Speaking to Fox News, Bessent said the world will benefit from President Trump's policy on crude oil.

The US Treasury Department agreed to "let our allies in India start buying Russian oil that was already on the water", he said.

"Our allies in India have been good actors and have previously stopped buying sanctioned Russian oil. As we work to ease the temporary gap of oil supply around the world, we have temporarily permitted them to accept Russian oil that is already on the water," he wrote on social media sharing highlights from the interview.

"This deliberately short-term measure will not provide significant financial benefit to the Russian government because it only authorizes transactions involving oil already stranded at sea," Bessent said.

The government faced criticism last week after Bessent announced on Friday of a temporary 30-day waiver from American sanctions to "allow" Indian refiners to purchase Russian oil.

Following Bessent's remarks, the Congress party accused the government of allowing the US to dictate the country's foreign and economic policies. PTI MPB KVK KVK