US Grants Temporary Waiver For Russian Oil Cargoes Stranded At Sea

The United States has issued a temporary waiver permitting the sale of seaborne Russian crude, immediately unlocking nearly 20 million barrels currently stranded aboard tankers. The move seeks to ease global supply pressures as oil prices surge beyond the $100 per barrel threshold.

Energy traders report that roughly 25 vessels carrying Russian crude remain at sea. Another five ships transport refined petroleum products.

The waiver allows these cargoes to redirect swiftly toward markets where demand has intensified. The decision follows a separate 30-day waiver earlier granted by the administration of Donald Trump.

That measure enabled Indian refiners to continue purchasing Russian oil to maintain supply stability in international markets.

Officials believe the authorisation could help cool rising crude prices.

Major importers such as India and China have remained key buyers of Russian oil. Their purchases have helped moderate volatility because both nations rank among the world’s largest energy consumers.

The new licence came from the United States Department of the Treasury.

Treasury Secretary Scott Bessent confirmed the decision on social media. He stated that the measure would temporarily permit countries to purchase Russian oil cargoes already stranded at sea.

According to the Treasury notice, the authorisation applies only to crude or petroleum products loaded onto vessels by March 12. It allows those shipments to be traded until April 11.

The announcement arrives amid rising geopolitical tension in the Middle East.

The new leadership in Iran has warned of a possible closure of the Strait of Hormuz, a vital maritime route that carries nearly 20 per cent of global oil exports.

The regional conflict has entered its second week. Missile strikes and drone attacks have increasingly targeted energy infrastructure and commercial shipping across the region.

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