The Trump administration has temporarily lifted sanctions on certain Russian oil shipments in an effort to stabilize global energy markets rattled by the war with Iran.
The Treasury Department issued a 30-day general license Thursday allowing approximately 128 million barrels of Russian oil already loaded on tankers to be sold on the global market, The Washington Post reported.
Officials said the move is designed to ease supply disruptions and prevent further spikes in energy prices as fighting in the Middle East roils oil markets
Treasury Secretary Scott Bessent described the step as a short-term measure meant to protect consumers and the broader economy.
"To increase the global reach of existing supply, @USTreasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea," Bessent wrote on X.
"The temporary increase in oil prices is a short-term disruption that will result in a massive benefit to our nation and economy in the long term."
Global oil markets have been under pressure since the start of the U.S.-Israeli military campaign against Iran and Tehran's subsequent attempts to disrupt shipping in the Strait of Hormuz — a critical chokepoint through which about one-fifth of the world's oil normally flows.
The turmoil pushed Brent crude prices above $100 per barrel this week for the first time since 2022, raising concerns about rising gasoline prices and broader economic fallout.
Energy analysts say allowing already-loaded Russian oil shipments to reach markets could help ease some of the supply pressure while the conflict continues.
The sanctions on Russian oil were originally imposed following Moscow's 2022 invasion of Ukraine as part of a coordinated effort by the United States and European allies to pressure the Kremlin economically.
Critics, particularly Democrats in Congress and European leaders, quickly attacked the decision to ease sanctions, arguing it could benefit Russian President Vladimir Putin.
Sen. Jeanne Shaheen, D-N.H., the top Democrat on the Senate Foreign Relations Committee, claimed on X the move would help "fill the Kremlin's war coffers."
European officials also raised concerns, with some warning that weakening sanctions on Russia could undermine efforts to pressure Moscow over its war in Ukraine.
Administration officials, however, stressed that the authorization is narrowly tailored and temporary.
Bessent said the measure applies only to oil already at sea and will not deliver a major financial windfall to Russia because most of Moscow's energy revenue comes from taxes collected at the point of extraction.
The White House has framed the move as part of a broader effort by President Donald Trump to keep energy markets stable while the U.S. military campaign against Iran continues.
Officials note that Washington and its allies have also released hundreds of millions of barrels from strategic reserves in an attempt to offset supply disruptions.
Meanwhile, Iran continues to threaten shipping in the Strait of Hormuz, with U.S. officials warning that the regime still has the capability to attack vessels and energy infrastructure in the region.
Despite those risks, the administration has argued that decisive action against Iran's military capabilities will ultimately strengthen global stability — both economically and strategically.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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