New York, March 13 (SANA) The United States has issued a 30-day waiver allowing countries to purchase Russian oil and petroleum products currently at sea and subject to sanctions.
According to CNBC, U.S. Treasury Secretary Scott Bessent said the move is intended to calm global energy markets disrupted by the war in the Middle East.
The decision follows Iran’s closure of the Strait of Hormuz, a key route for oil tankers exporting crude from the region, since the start of the U.S.–Israeli–Iranian war on February 28.
Oil prices surpassed $100 per barrel on Thursday, a level not seen in four years.
Several countries have begun drawing from their strategic petroleum reserves. The United Kingdom and France together released 28 million barrels of oil, alongside similar measures taken by Japan and the United States.
Meanwhile, the International Energy Agency announced on Wednesday the release of 400 million barrels of oil, the largest drawdown of reserves in its history, aimed at easing supply pressures and lowering crude prices.
F.J.
