US Allows Temporary Purchase of Russian Oil in Transit to Support Global Energy Stability

Washington, March 2026 : The United States has introduced a temporary measure allowing countries to purchase Russian oil currently stranded at sea, a move aimed at stabilising global energy markets amid rising geopolitical tensions and supply uncertainties.

The decision comes shortly after Washington granted a similar waiver to India, reflecting efforts by the US administration to maintain steady energy supplies while continuing broader sanctions pressure on Russia.

US Treasury Secretary Scott Bessent said the initiative is designed to expand the availability of existing oil supplies without significantly increasing financial gains for Russia, as the crude involved had already been loaded onto ships before the new restrictions took effect.

According to the US Treasury Department, the temporary authorisation permits transactions required for the sale, delivery, or offloading of Russian-origin crude oil and petroleum products that were already loaded on vessels before March 12. These cargoes have remained stranded at sea due to sanctions-related limitations affecting buyers and shipping arrangements.

“To increase the global reach of existing supply, the US Treasury is providing a temporary authorisation to permit countries to purchase Russian oil currently stranded at sea,” Bessent said while explaining the decision.

Officials clarified that the measure is narrowly focused and applies only to oil shipments already in transit. The objective is to ease immediate supply constraints without providing Russia with substantial additional revenue.

“This short-term and targeted step applies only to oil already loaded onto vessels. It will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes imposed at the point of extraction,” Bessent added.

The move is part of broader efforts by the administration of Donald Trump to ensure stability in global energy markets while addressing emerging geopolitical challenges. US officials say maintaining steady oil flows is essential for controlling price volatility and safeguarding the global economy.

Bessent also highlighted the role of domestic energy production in strengthening the United States’ position in global markets. He noted that policies encouraging energy development have contributed to record levels of US oil and gas production in recent years.

“President Trump’s pro-energy policies have helped drive US oil and gas production to record levels, contributing to lower fuel prices for American consumers,” he said, adding that current price fluctuations are likely to be temporary disruptions rather than long-term trends.

The decision to allow purchases of stranded Russian oil comes as global energy markets experience renewed volatility driven by geopolitical tensions, particularly in the Middle East. Concerns about disruptions to key shipping routes, infrastructure, and supply chains have prompted governments to explore mechanisms that maintain stable supply while preserving sanctions pressure.

Russia continues to be one of the world’s largest exporters of crude oil and petroleum products. Following the outbreak of the Russia-Ukraine conflict in 2022, the United States and its allies imposed extensive sanctions targeting Russian financial institutions, shipping networks, and energy exports.

Despite these restrictions, policymakers have sought to balance geopolitical objectives with the need to prevent severe disruptions in global energy supply.

The latest US measure reflects this balancing approach, allowing oil already in transit to reach markets while maintaining the broader framework of sanctions intended to limit Russia’s long-term revenue from energy exports.

(The content of this article is sourced from a news agency and has not been edited by the Mavericknews30 team.)