Trump administration takes steps to ease sanction on Russian oil . (File Photo)
The administration of Donald Trump has issued a temporary authorisation allowing countries to purchase Russian oil that is already in transit, as global crude prices rise during the war with Iran, according to the Associated Press (AP).
The move follows an earlier waiver that allowed India to continue buying Russian oil for a limited period. US officials said the step aims to stabilise global energy markets and address supply disruptions.
Scott Bessent said the decision was intended to keep oil supplies flowing while the conflict continues.
“Trump is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the Iranian regime,” Bessent said in a post on X.
.@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime.
To increase the global reach of existing supply, @USTreasury is providing a temporary…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026
The US Treasury said the measure allows countries to buy Russian oil that is currently stranded at sea. Officials said the authorisation applies only to shipments already in transit.
“To increase the global reach of existing supply, Treasury Department is providing a temporary authorisation to permit countries to purchase Russian oil currently stranded at sea,” Bessent said.
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The authorisation is limited in scope and time, according to US officials.
Bessent said the measure would not provide major financial gains to Russia, noting that most of the country’s energy revenue comes from taxes imposed at the point of oil extraction.
He also said the increase in oil prices was linked to the conflict involving Iran.
“The temporary increase in oil prices is a short-term disruption that will result in a benefit to our nation and economy in the long term,” Bessent said.
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Trump administration takes steps to ease sanction on Russian oil . (File Photo) 
