March 13, 2026
US Treasury Issues 30-Day License to Allow Sale of Russian Oil Stranded at Sea
Treasury Secretary Scott Bessent said the move aims to promote stability in global energy markets amid the ongoing conflict with Iran.
TL;DR
- The U.S. Treasury Department issued a license on March 12, permitting the sale of Russian crude oil and petroleum products stranded at sea.
- The license is valid until April 11 and applies to oil loaded onto ships by March 12.
- Treasury Secretary Scott Bessent stated the goal is to promote stability in global energy markets and keep prices down amid the conflict with Iran.
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