The Trump administration has authorized countries to temporarily purchase certain Russian petroleum products currently stranded at sea, in a significant policy reversal that comes as oil prices surge amid the ongoing war with Iran.
The announcement was made on the same day Brent crude surpassed $100 per barrel for the first time since August 2022, heaping pressure on Washington to act to stabilize global energy markets.
Treasury Secretary Scott Bessent announced the measure on social media, saying the US is providing a temporary 30-day authorization waiver allowing countries to purchase Russian oil currently stranded at sea to increase the global availability of existing supply.
Bessent downplayed the policy’s significance, stressing that the measure is limited and short-term and applies only to oil already in transit.
According to the authorization published on the Treasury Department’s website, the waiver covers only Russian crude oil or petroleum products loaded onto vessels on or before March 12, with deliveries permitted through April 11.
The move represents a sharp pivot for Trump, who had previously ramped up pressure on Russian oil companies in an effort to choke off revenues funding Moscow’s war in Ukraine — and stands in stark contrast to the hawkish rhetoric on energy dominance that has defined much of the Trump administration’s public posture.
Ukrainian President Volodymyr Zelensky has yet to comment on the latest announcement, but said on Tuesday that easing sanctions would be a “serious blow” for Ukraine and “concession” to Russia that would allow it to buy more weapons.
French President Emmanuel Macron, meanwhile, said that the Strait of Hormuz’s shutdown “in no way” justified lifting the sanctions on Russia.
The President of the European Council, Antonio Costa posted on social media: “The unilateral decision by the US to lift sanctions on Russian oil exports is very concerning, as it impacts European security. Increasing economic pressure on Russia is decisive for it to accept a serious negotiation for a just and lasting peace. Weakening sanctions increases Russian resources to wage the war of aggression against Ukraine.”
German Chancellor Friedrich Merz criticized the decision to lift the sanctions, warning it was a mistake to ease sanctions against Russia at the current stage for any reason.
with information from BBC
