U.S. Treasury Issues Another License to Permit More Russian Oil Sales
Deep News
Mar 13
The U.S. has issued a second license allowing buyers to purchase Russian oil already at sea, aiming to ease growing pressure on oil prices caused by the ongoing conflict in the Persian Gulf.
Treasury Secretary Scott Bessent stated on social media that this is a "narrowly scoped, short-term measure" that "only applies to oil already in transit and will not provide significant economic benefits to the Russian government."
The measure applies only to oil loaded before March 12 and expands on last week's one-month exemption granted to India for purchasing Russian oil, which covered shipments loaded before March 5.
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