US EditionU.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
The U.S. issued a 30-day license for Russian oil shipments already at sea to ease supply shocks caused by Middle East conflicts, with 124 million barrels affected, Treasury 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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323 Articles
Associated Press News
Zelenskyy says US 30-day waiver on Russian oil sanctions is 'not the right decision'
Ukrainian President Volodymyr Zelenskyy says the U.S. 30-day waiver on Russian oil sanctions amid the Iran war is “not the right decision” and won’t help bring a stop to Russia’s more than 4-year-old invasion of Ukraine.
The unilateral US decision to temporarily lift economic sanctions against Russia is worrying, according to European Council President Antonio Costa, as it affects European security. German Chancellor Friedrich Merz called the easing of sanctions a wrong decision that could help finance Russia's war in Ukraine.
The German Chancellor criticized Washington's decision to temporarily lift sanctions on Russia, while reiterating his concerns about the US and Israel's strategy.
Russia considers that the derogation from the sanctions on its oil represents a Washington attempt to stabilize global energy markets, and the two countries have a common interest in this, said the spokesman of the...
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