White House Lifts Some Sanctions on Russian Oil

"A Treasury Department general license will allow the sale of about 128 million barrels of Russian oil already loaded onto tankers previously sanctioned by Washington. The authorization lasts 30 days. Treasury Secretary Scott Bessent said the move would let countries buy Russian oil "currently stranded at sea" to expand global supply."

"Brent crude futures settled above $100 a barrel Thursday for the first time since 2022, as fighting and shipping disruptions around the Strait of Hormuz fueled fears of a prolonged supply shock."

"Critics argue that the move will undermine American efforts to end the Russian invasion of Ukraine, a priority that Trump made a major part of his presidential campaign but which has so far proved elusive."

The Trump administration issued a temporary general license through the Treasury Department permitting the sale of approximately 128 million barrels of Russian oil already loaded on previously sanctioned tankers. The authorization lasts 30 days and aims to expand global oil supply and alleviate economic pressures from the U.S.-Israeli conflict with Iran and elevated crude prices. Brent crude futures exceeded $100 per barrel for the first time since 2022, driven by fighting and shipping disruptions near the Strait of Hormuz. Treasury Secretary Scott Bessent stated the measure would allow countries to purchase Russian oil currently stranded at sea. Critics contend the move provides substantial revenue to Moscow and potentially undermines U.S. efforts to end Russia's invasion of Ukraine.

Read at The American Conservative