US grants 30-day waiver for Russian oil purchases

The United States has issued a 30-day sanctions waiver allowing countries to buy Russian oil currently stranded at sea, in a move aimed at stabilizing global energy markets disrupted by the Middle East war.

The temporary license, announced by the U.S. Treasury, permits the delivery and sale of Russian crude oil and petroleum products already loaded on vessels as of March 12. The waiver will remain valid until April 11, according to the official document, News.az reports, citing Reuters.

The decision comes as the administration of Donald Trump seeks to ease pressure on global energy supplies following escalating conflict involving Iran. Attacks on shipping in the Strait of Hormuz have disrupted major oil and gas routes, pushing prices sharply higher.

U.S. Treasury Secretary Scott Bessent said the waiver is a short-term and targeted measure designed to calm markets without providing significant financial benefit to Russia.

“The temporary increase in oil prices is a short-term disruption that will ultimately benefit our economy in the long term,” Bessent said in a statement.

The waiver is part of a broader effort by Washington and its partners to contain the economic fallout from the conflict. Earlier this week, the United States announced it would release 172 million barrels of crude from the Strategic Petroleum Reserve, while the International Energy Agency pledged a coordinated global release of 400 million barrels among its member countries.

Energy markets have been under intense pressure since the war began. The IEA said the conflict has triggered the largest oil supply disruption in history, as attacks on infrastructure and shipping routes reduce the flow of crude from the Middle East.

According to reports, about 124 million barrels of Russian-origin oil are currently stranded at sea across roughly 30 locations worldwide. The temporary waiver could bring a portion of that supply to market, easing shortages and cooling prices.

However, the decision may complicate Western efforts to limit Russia’s oil revenues during the war in Ukraine and could create tensions between Washington and some of its allies, who have supported strict sanctions on Moscow’s energy exports.

News.Az 

By Aysel Mammadzada