The United States has temporarily eased sanctions on Russia, allowing Russian crude oil currently stranded at sea to be sold to India in an effort to stabilize global energy supplies.
The decision was announced after the US Department of the Treasury issued a special license through its Office of Foreign Assets Control (OFAC), authorising the delivery and sale of Russian-origin crude oil and petroleum products that had already been loaded on vessels but were unable to reach buyers due to sanctions.
According to officials, the licence will allow these transactions to proceed until April 3, 2026.
US Treasury Secretary Scott Bessent said the temporary waiver was introduced to ensure stability in global energy markets.
He noted that the measure was designed “to enable oil to keep flowing into the global market” and added that the waiver would not provide significant financial benefit to Moscow because it applies only to cargoes that are already at sea and struggling to find buyers due to sanctions.
Energy analysts say the move could help prevent further disruptions in global oil supplies at a time when markets are already facing volatility due to geopolitical tensions.
Experts also note that India, one of the world’s largest crude oil importers, relies heavily on imported energy and is particularly vulnerable to supply shocks in global markets.
Officials added that while the temporary waiver allows India to purchase the stranded Russian cargoes, Washington expects India to gradually increase its purchases of American crude oil once current market disruptions ease.
The decision reflects growing concerns among policymakers that restricting already-loaded shipments could further tighten global oil supply and push energy prices higher in an already unstable market.
