Trump temporarily lifts sanctions on Russian oil to ease the flow of crude amid war with Iran
The move, announced by the Treasury Department, will allow shipments of Russian oil already at sea to reach international buyers until April 11.
Russian President Vladimir Putin during a conference in a file image.
President Donald Trump's administration temporarily lifted some sanctions on Russian oil currently in sea transit, aiming to increase the global supply of crude amid the war with Iran, which began in late February.
The measure, announced by the Treasury Department, will allow shipments of Russian oil already at sea to reach international buyers until April 11. Washington is thus seeking to contain rising oil prices, which have soared due to the escalating conflict in the Middle East.
Treasury Secretary Scott Bessent explained that this is a limited authorization intended only to release oil already in transit. However, Bessent acknowledged that the measure will also have some brief economic benefit for Moscow.
"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," the U.S. official said in a social media post. "This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction."
.@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.
— Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026
To increase the global reach of existing supply, @USTreasury is providing a temporary…
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The Trump administration's decision marks a one-off reversal of the sanctions policy imposed by the United States and the Group of Seven against Russia following the 2022 invasion of Ukraine.
According to energy analysis firm Kpler, about 130 million barrels of Russian oil are currently at sea, which could increase global supply if they reach the market.
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Energy Secretary Chris Wright explained that the release will take place over approximately 120 days and assured that the U.S. plans to subsequently replenish the reserves with about 200 million barrels, or 20% more than what will be drawn. The announcement came after the 32-member countries of the International Energy Agency agreed to a coordinated release of 400 million barrels of oil and refined products to stabilize the market.
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