economy
March 13, 2026
U.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets
The U.S. has temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets.
TL;DR
- The U.S. has granted a temporary 30-day waiver to purchase Russian oil stranded at sea.
- The measure aims to stabilize energy markets and mitigate sharp oil price swings.
- This authorization applies only to oil already in transit and loaded before a specific deadline.
- U.S. Treasury Secretary Scott Bessent described it as a short-term measure for long-term economic benefit.
- The waiver is not expected to provide significant financial benefit to the Russian government.
- This move follows a similar 30-day waiver granted to India.
- Previous sanctions, including a price cap and a ban on Russian oil imports by the U.S. in 2022, remain in place for oil not covered by the waiver.
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