US Allows Countries to Purchase Russian Oil Stranded at Sea amid Supply Concerns

The United States issued a new general license allowing countries to purchase Russian crude oil and petroleum products currently stranded at sea, according to a statement published Thursday on the U.S. Treasury Department’s website.

The authorization permits transactions involving Russian oil already loaded onto vessels until April 11, in what officials described as a temporary measure aimed at stabilizing global energy supplies.

According to the Treasury Department, the license applies exclusively to oil shipments that are already in transit and is not expected to generate significant financial benefits for the Russian government. The move is intended to ease supply pressures in international markets without substantially altering existing sanctions policy.

Officials said the short-term exemption seeks to expand available global supply at a time of heightened volatility in oil markets.

The license took effect on March 12, one day after the U.S. Department of Energy announced the release of 172 million barrels of oil from the Strategic Petroleum Reserve in an effort to curb sharp increases in crude prices linked to the ongoing conflict with Iran.

The release forms part of a broader coordinated effort led by the International Energy Agency (IEA), whose 32 member states pledged to collectively release 400 million barrels of oil to help stabilize markets.

U.S. President Donald Trump said earlier this week that elevated oil prices are expected to decline rapidly once the conflict with Iran concludes. In a social media post, Trump described the current price surge as an acceptable short-term cost amid wartime conditions.

“Short-term oil prices, which will fall quickly once the Iranian nuclear threat is eliminated, are a very small price to pay for the safety and security of the United States and the world,” the president wrote.

Energy analysts say the temporary license reflects growing concerns among policymakers about supply disruptions and market instability as geopolitical tensions continue to influence global energy flows.