The United States has temporarily allowed the sale of certain Russian oil shipments in an effort to ease pressure on global energy markets amid the ongoing conflict in West Asia.
The US Treasury issued a 30-day licence permitting countries to buy Russian crude oil and petroleum products that are already loaded on ships and currently at sea. The measure is aimed at preventing supply disruptions and controlling rising oil prices caused by the regional conflict.
According to officials, the waiver applies only to cargo that had already been loaded on tankers before the order was issued. Buyers have been given time until April 11 to complete these transactions.
The move comes as tensions in the Middle East, particularly involving Iran, have disrupted shipping through the Strait of Hormuz. The narrow waterway is one of the world’s most important oil transport routes, and any disruption there can significantly affect global energy supply.
Due to concerns about supply shortages, global crude oil prices have surged past $100 per barrel in recent days. Governments across the world have been closely watching the situation as rising prices threaten to increase inflation and economic pressure in many countries.
Energy experts estimate that a large volume of Russian crude oil has remained stranded on ships following earlier sanctions imposed after Russia’s invasion of Ukraine. Allowing these cargoes to be sold could help increase short-term supply in the global market and reduce immediate price pressure.
US officials said the relaxation of sanctions is temporary and limited in scope. They emphasised that the step is meant only to address the current market disruption and will not change the broader sanctions policy against Russia.
However, the decision has faced criticism from some Western policymakers who believe easing restrictions could reduce the impact of sanctions meant to pressure Russia over the Ukraine conflict.
Also Read: India has adequate fuel supplies, says Centre
