- Summary
- US issues 30-day license for sanctioned stranded Russian oil purchases
- Measure the latest by Trump administration to calm energy markets jolted by Iran war
- IEA says war creating the biggest oil supply disruption in history
Oil prices eased on Friday morning in Asia after the U.S. waiver announcement.
The license issued by Washington on Thursday authorizes the delivery and sale of Russian crude oil and petroleum products loaded on vessels as of March 12 and valid through midnight Washington time on April 11, according to the text of the license posted on the Treasury Department's website.
There were about 124 million barrels of Russian-origin oil on water across 30 different locations globally as of Thursday, Fox News reported, adding that the U.S. license would provide around five to six days of supply when taking into account the daily loss of oil from the Strait.
US issues 30-day sanctions waiver for purchase of Russian oil at sea
The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.
www.reuters.com
