US allowed to buy Russian oil at sea for 30 days
Kyiv • UNN
The US Treasury Department has introduced a temporary permit for the purchase of Russian oil loaded on tankers until April 11. The decision was made to stabilize the market.
The United States has issued a temporary permit for the purchase of sanctioned Russian oil and petroleum products that are already loaded on tankers and at sea. The exception will be valid for 30 days and aims to stabilize global energy markets. This was reported by Reuters, writes UNN.
Details
US Treasury Secretary Scott Bessent stated that the decision is related to the sharp increase in tensions in the Middle East and disruptions in energy supplies due to the war with Iran. After the announcement of the exceptions, oil prices in Asian markets fell on Friday.
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According to the US Treasury license, the permit applies to Russian oil and petroleum products that were loaded onto vessels as of March 12. It will be valid until midnight on April 11, Washington time.
The decision was part of broader measures to curb energy prices. Earlier, the US announced the release of 172 million barrels of oil from the strategic reserve, and the International Energy Agency, together with partners, plans to release a total of 400 million barrels to the market. The organization notes that the war in the Middle East has caused the largest disruptions in oil supply in history.