US EditionU.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
The U.S. granted a 30-day license to allow sale of 124 million barrels of Russian oil already loaded on vessels to ease supply disruptions caused by Middle East conflict.
- On March 12, the U.S. Treasury Department issued a 30-day licence allowing purchase of Russian crude and petroleum products stranded at sea, covering cargoes loaded by 12.01 a.m. Eastern time and valid until April 11, 12.01 a.m.
- Escalating hostilities near the Strait of Hormuz have paralysed shipping after strikes and reprisals, with Iran's Islamic Revolutionary Guard Corps warning it would block shipments and Mojtaba Khamenei vowing to use the Strait as leverage.
- Oil markets reacted, with Brent crude falling 0.38% to $100.10 and West Texas Intermediate dropping 0.58% to $95.17, while Bessent called the move a 'narrowly tailored, short-term measure' that 'will not provide significant financial benefit to the Russian government'.
- There were about 124 million barrels of Russian-origin oil on water across 30 locations as of March 12, and the White House ordered the U.S. International Development Finance Corporation to offer political risk insurance while considering a Jones Act waiver.
- Despite strategic releases including the U.S. Energy Department's 172 million barrels SPR plan, Saudi Arabia and UAE rerouting show no long-term replacement for barrels Iran kept off market.
129 Articles
129 Articles
The US Ministry of Finance announced on Thursday the temporary authorization of the sale of Russian oil stored on ships. This new relaxation was welcomed this Friday by the Kremlin emissary. Indeed, Russia's oil and gas revenues reached their lowest level in January in five years. - War in the Middle East: Washington temporarily authorizes the sale of Russian oil (Economy).
To reduce the economic impact of the attacks on Iran, the United States has temporarily eased economic sanctions against Russia and allowed the sale of Russian oil and petroleum products already loaded onto ships at sea.
Trump Eases Sanctions On Russian Oil 'Stranded At Sea' To Counter Middle East Supply Shock Amid Iran-US War - United States Oil Fund (ARCA:USO)
The Donald Trump administration has issued a temporary authorization for countries to purchase Russian oil currently “stranded at sea,” a move designed to stabilize global energy markets as tensions from the Iran-U.S. war push Brent crude prices past $100 per barrel. Strategic Waiver Amid Rising Costs Treasury Secretary Scott Bessent announced the “narrowly tailored, short-term measure” on Friday, aiming to inject immediate supply into a volatil…
There are increasing costs and pressures. The leader: they must not have nuclear weapons, I will stop the Empire of Evil
The Trump administration assures that it is a "short-term measure", while Brent's barrel was once again above 100 dollars this Friday. "Without Russian oil, the global energy market cannot remain stable," says the Kremlin emissary.
The U.S. government temporarily allows the sale of Russian crude oil and Russian petroleum products. The Treasury granted a license until April 11. The U.S. president had called Kremlin chief Putin this week.
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