Washington, D.C. – Web Desk: The United States has issued a 30-day general license allowing access to Russian oil, a move aimed at stabilizing global energy markets and ensuring supply to vulnerable nations, according to the US Treasury Department.
Treasury Secretary Scott Bessent announced that the license would facilitate access to Russian oil currently stranded at sea. “We are issuing a 30-day general license for access to Russian oil,” Bessent said. He added that the US would work with partner countries to issue specific licenses as needed.
The general license is expected to help stabilize physical crude oil markets. Bessent emphasized that the measure would ensure oil deliveries to energy-vulnerable countries, helping to ease supply constraints and potentially lower prices.
According to a news agency report, the facility is being provided initially to improve oil supply and reduce prices. The move represents a temporary relaxation of sanctions enforcement, allowing for the movement of Russian crude under specific conditions.
