US allows purchase of Russian oil at sea

The United States has issued a 30-day exemption allowing countries to purchase sanctioned Russian oil and oil products that are already loaded on ships. Washington is responding to severe shocks in global energy markets following the war with Iran and disruptions to shipping through the Strait of Hormuz.

According to US Treasury Secretary Scott Bessent, this is a narrowly targeted and short-term measure that should not bring Russia significant financial benefits.

The announcement came shortly after oil prices jumped above $100 per barrel. The US is also trying to ease pressure on domestic consumers and businesses.

The administration of US President Donald Trump has already released part of its strategic oil reserves and is considering further measures to stabilise energy prices.

However, the move is causing concern among Western allies. Critics warn that the temporary lifting of sanctions could undermine efforts to limit Russia’s revenues from the war in Ukraine.

European Commission president Ursula von der Leyen has indicated that she believes now is not the right time to ease sanctions against Moscow.

(reuters, pir)