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U.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
The U.S. Treasury's 30-day license allows sales of Russian oil loaded before March 12 to ease supply shocks from Middle East conflicts, impacting around 100 million barrels, officials said.
- On March 12, the U.S. Treasury's Office of Foreign Assets Control issued a 30-day licence authorising sale and delivery of Russian-origin crude oil loaded on vessels through April 11.
- Amid U.S.-Israeli strikes on Iran that disrupted the Strait of Hormuz, the International Energy Agency agreed to release 400 million barrels and the U.S. 172 million barrels to steady markets.
- Bessent described the measure as 'This narrowly tailored, short-term measure', noting it covers docking, crewing, insurance and vessel services while Brent crude fell 0.38% to $100.10, WTI dropped 0.58% to $95.17, and bitcoin jumped to just below $72,000.
- Opponents, including Sen. Jeanne Shaheen, argued the move could enrich Vladimir Putin and weaken sanctions, criticizing the White House's decision ahead of the November midterm elections.
- Previously, the U.S. issued a March 5 waiver allowing India to buy Russian oil, and Kirill Dmitriev met U.S. envoys in Florida as CREA found Moscow gained 6 billion euros.
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351 Articles
Donald Trump temporarily allows the purchase of Russian oil. Thus, the US President plays Russia directly into his hands, says n-tv Washington correspondent Peter Kleim.Donald Trump temporarily allows the purchase of Russian oil. Thus, the US President plays Russia directly into his hands, says n-tv Washington correspondent Peter Kleim.
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Bessent Greenlights Sale Of Russian Oil At Sea To “Promote Stability In Global Energy Markets” In a statement late Thursday on X, U.S. Treasury Secretary Scott Bessent announced that the U.S. will allow countries to purchase Russian crude oil already at sea. The move aims to temporarily boost global supply availability, as the IEA warned...
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Associated Press News
Zelenskyy says US 30-day waiver on Russian oil sanctions is 'not the right decision'
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