The license, published by the Treasury, suspends sanctions on Russian oil loaded onto ships by Thursday and remains in effect until April 11, Polish state news agency PAP reported.
It is the second such move since the start of the war against Iran. On March 5, the US Treasury exempted transactions involving Russian oil already loaded onto ships, though that measure applied only to buyers in India.
“To increase the global reach of existing supply, the US Treasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea," Treasury Secretary Scott Bessent said in a statement on X.
"This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction," he added.
Bessent also said the recent rise in oil prices was “a short-term and temporary disruption” that would bring major benefits to the United States and its economy over the longer term.
The move is the latest step by Donald Trump’s administration to curb rising oil prices after Iranian attacks on shipping in the Strait of Hormuz, following offers to insure tankers and the release of 174 million barrels from the US strategic reserve.
Bessent said on Thursday that US forces, and possibly international ones, would escort tankers through the strait. But in an interview with Sky News, he said he would “absolutely” not advise the president to end the war regardless of how high prices rose.
(jh/gs)
Source: PAP
Click on the audio player above for a report by Marcin Matuszewski.