The Globe and Mail reports in its Saturday edition that the U.S. Treasury Department has decided to allow India to buy Russian oil for 30 days, helping fund Russia's actions in Ukraine. An Associated Press dispatch to The Globe reports that the measure aims to alleviate rising oil prices affecting U.S. consumers while reflecting the tight oil and gas markets impacted by the U.S.-Israeli conflict with Iran. President Donald Trump imposed 25-per-cent tariffs on India for buying Russian oil, but lifted the tariff on Feb. 6, claiming a promise from India to stop such purchases. The war in Iran and the risk of Iranian drone or missile attacks has shut down most tanker traffic through the Strait of Hormuz. Tankers travelling through the strait carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the United Arab Emirates and Iran. Now nothing is going through. Soaring oil prices after the effective closing of the Strait of Hormuz oil chokepoint have meant at least a temporary reversal of fortune for Russia's fossil-fuel revenues. Treasury Secretary Scott Bessent said that the 30-day period would not significantly benefit the Russian government, as it only affected oil stranded on tankers without any buyers.