The United States has temporarily eased sanctions on certain Russian oil shipments currently stranded at sea in an effort to stabilize global energy markets amid rising prices linked to the war with Iran.
U.S. Treasury Secretary Scott Bessent said the “narrowly tailored” measure allows the oil to be sold or moved until April 11, stressing the exemption is designed to prevent supply disruptions rather than provide significant financial benefit to Russia.
He said the decision is part of efforts to ease pressure on global fuel markets.
Bessent wrote in a post on X that President Donald Trump is taking “decisive steps to promote stability in global energy markets and keep prices low” while addressing instability caused by the conflict with Iran.
Oil prices have surged since fighting escalated around the Strait of Hormuz, a key route for global oil shipments.
The policy has drawn criticism from some lawmakers. Several Democratic senators, including Sen. Elizabeth Warren, have called for a congressional hearing with Bessent to explain the administration’s moves to relax sanctions tied to Russian oil exports.
