US Temporarily Allows Purchase Of Russian Oil Stranded At Sea Amid Middle East Crisis

• The US temporarily eased sanctions to allow the delivery and sale of Russian oil stranded at sea, aiming to stabilize global energy supplies.
• The US Treasury Department issued a time-bound license for transactions involving oil loaded on or before March 12, valid until April 11.
• This move is a temporary relaxation of sanctions imposed on Russia following its invasion of Ukraine, while broader economic pressure continues.
• The decision comes amid surging oil prices and market volatility caused by US-Israeli strikes on Iran and escalating Middle East conflict.
• Treasury Secretary Scott Bessent described it as a "narrowly tailored, short-term measure" to increase supply, not significantly benefit Russia.