United States Temporarily Authorizes Sale of Russian Oil Amid Middle East Tensions
Washington, March 13 The United States is temporarily allowing the sale of Russian oil already at sea, the Treasury Department announced on Thursday, as global energy prices surge following US-Israeli strikes on Iran that have escalated conflict in West Asia.
The authorization represents a limited easing of sanctions imposed on Russia over its invasion of Ukraine. The Treasury issued a license on March 12 permitting the delivery and sale of Russian crude oil and petroleum products loaded onto vessels on or before 12:01 am Eastern Time on March 12. The license remains valid until 12:01 am on April 11.
This decision follows a recent move by Washington to allow Russian oil stranded at sea to be sold to India.
US Treasury Secretary Scott Bessent said the latest measure is intended to "increase the global reach of existing supply" but emphasized that it is a "narrowly tailored, short-term measure." He clarified that it would not provide substantial financial benefit to the Russian government, as most energy revenue is collected via taxes at the point of extraction.
The escalation in the Middle East has disrupted global energy and transport networks, severely affecting operations in the Strait of Hormuz, a critical passage through which about a fifth of the world’s oil is transported.
This temporary authorization highlights Washington's effort to stabilize energy supplies amid ongoing geopolitical tensions while maintaining pressure on Russia’s broader energy revenues.
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