The U.S. has granted a 30-day waiver allowing countries to purchase Russian crude oil and petroleum products currently stranded at sea. Officials say the move is intended to stabilize global energy markets, which have been shaken by the conflict with Iran, Reuters reported.
The U.S. Treasury Department said the temporary license applies to Russian oil loaded onto tankers as of March 12. The authorization will remain valid until midnight Washington time on April 11.
Treasury Secretary Scott Bessent said the measure is temporary and targeted, aimed at addressing rising oil prices following recent U.S. and Israeli strikes on...