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The United States has partially eased sanctions against Russia by issuing a temporary license allowing the sale of Russian oil and petroleum products that have already been loaded onto tankers.
The document was published by the Office of Foreign Assets Control (OFAC), which operates under the U.S. Department of the Treasury.
What the license allows
The license permits the sale of Russian cargoes that were loaded onto ships as of March 12.
It will remain valid until 00:01 Eastern Time on April 11.
This effectively gives traders and oil refineries about one month to complete transactions involving these shipments.
Why the decision was made
U.S. Treasury Secretary Scott Bessent stressed that the measure is temporary.
According to him, the license was issued to allow countries to purchase Russian oil that is already stuck at sea, helping increase supply on the global market amid tensions in the Middle East related to Iran.
Bessent said the decision is unlikely to bring significant financial benefits to the Russian government. He also argued that the current spike in oil prices should be short-term and could ultimately bring broader benefits to the U.S. economy.
Trump’s statement
The temporary easing of sanctions was announced by Donald Trump after a phone call with Vladimir Putin.
According to Trump, the step is intended to prevent a sharp rise in global energy prices amid escalating tensions surrounding Iran. However, he hinted that the restrictions might not necessarily be reinstated later.
