Russian oil back on the market: US gives green light until April
13 March 07:12
The US Treasury Department has temporarily eased oil sanctions against Russia, allowing the export of already loaded oil and petroleum products.
This was reported by "Komersant Ukrainian" with reference to a Reuters publication.
The US has eased restrictions on the sale of Russian oil
Against the backdrop of the global oil crisis caused by military action in the Middle East, Washington has taken a decision that until recently seemed unlikely.
The US Treasury Department has issued a general license allowing Russia to sell already shipped oil resources, which effectively temporarily eases the sanctions pressure on Moscow.
According to the department, the permit applies only to oil loaded onto ships before March 12, and sales are permitted until April 11.
Thus, the easing of sanctions is calculated for one month, probably with the aim of stabilizing the global oil situation in the short term.
Restrictions and nuances of the new license
It is important to note that the new US license does not apply to transactions involving Iran.
Military actions in this country, including the blockade of the Strait of Hormuz, have created a supply shortage in the global oil market.
US Treasury Secretary Scott Bessent stressed that the temporary permit applies only to oil “currently stuck at sea” and will not provide significant profits to the Russian government.
Thus, the measure is limited and short-term in nature, aimed at mitigating the effects of the global energy crisis.
