US EditionU.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
The U.S. Treasury issued a 30-day license allowing sale of 124 million barrels of Russian oil already at sea to ease global supply disruptions caused by Middle East conflict.
- 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.
390 Articles
390 Articles
Kremlin revenues have increased by 17% in two weeks and exports from northern Russian ports by 24% More information: The EU is charging Trump for relaxing Russian oil sanctions: "Increase Moscow's resources for war"
The Toronto Star
Zelenskyy says US 30-day waiver on Russian oil sanctions is ‘not the right decision’
PARIS (AP) — Ukrainian President Volodymyr Zelenskyy said Friday that the U.S. 30-day waiver on Russian oil sanctions amid the Iran war is “not the right decision” and won’t help
The plan behind Russian oil sanctions and why a reversal faces backlash
The U.S. Department of Treasury temporarily lifted sanctions on Russian oil Thursday in an effort to dampen the impact of high oil prices amid the war in Iran. The move has drawn vocal critics who say it will help Russia without significantly lowering oil prices, which sat above $100 per barrel on Friday. The U.S. is lifting sanctions on Russian oil already at sea for 30 days until April 11. This comes a week after the Treasury issued a narrowe…
Europeans Rip US Move Easing Russian Oil Sanctions
European leaders have delivered a sharp rebuke to the Trump administration over its move to loosen the grip on Russian oil in an attempt to slow the rapid rise in energy prices. German Chancellor Friedrich Merz said Friday that the US decision to temporarily relax sanctions and let stranded Russian...
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