Washington, March 13 (NationPress) The United States has granted a temporary allowance for nations to acquire Russian oil that is currently stranded at sea. This decision follows a similar waiver issued to India just days earlier, as the US endeavors to stabilize the global energy market amid escalating geopolitical tensions.

Treasury Secretary Scott Bessent stated that this initiative aims to enhance the availability of existing oil supplies while restricting financial benefits for Russia, given that the crude oil in question is already en route.

“@POTUS is making bold moves to ensure stability in global energy markets and is working to keep prices manageable as we confront the threats posed by the Iranian regime,” Bessent commented.

The US Treasury has released a temporary authorization that permits necessary transactions for the sale, delivery, or offloading of Russian-origin crude oil and petroleum products loaded onto vessels before March 12. This measure enables countries to buy oil that is presently in transit and stranded at sea due to sanctions-related limitations.

“In order to broaden the global supply of oil, @USTreasury is providing a temporary authorization for countries to purchase Russian oil currently stranded at sea,” Bessent explained.

US officials have emphasized that this measure is limited, applying only to cargoes that are already on ships.

“This carefully defined, short-term measure applies solely to oil in transit and will not yield substantial financial gains for the Russian government, which primarily receives its energy revenue through taxes at the extraction point,” Bessent clarified.

The Treasury Secretary expressed confidence that the recent uptick in oil prices is a short-lived disruption, anticipating that broader energy policies will enhance supply over time.

“President Trump's energy policies have propelled US oil and gas production to unprecedented levels, leading to lower fuel costs for hardworking Americans. This temporary rise in oil prices is merely a short-term disruption, expected to bring significant long-term benefits to our nation and economy,” he noted.

This decision mirrors the waiver extended to India earlier this week, showcasing Washington’s attempt to reconcile sanctions pressure with the need for stability in global energy supply and pricing.

Energy markets are experiencing renewed volatility due to geopolitical tensions in the Middle East, heightening fears about potential disruptions to oil supply routes and infrastructure. Governments are increasingly seeking strategies to maintain supply while continuing sanctions against Russia and Iran.

Russia remains one of the leading exporters of crude oil and petroleum products worldwide. Since the onset of the Ukraine invasion in 2022, the United States and its allies have implemented extensive sanctions targeting Russian financial institutions, shipping networks, and energy exports.