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The United States has temporarily lifted sanctions on Russian oil that is already loaded onto tankers at sea, Treasury Secretary Scott Bessent confirmed, AzerNEWS reports.

According to a license issued by the U.S. Department of the Treasury, foreign countries are allowed to purchase Russian oil that was loaded before March 12 and is currently in transit.

“This limited short-term measure applies only to oil that is already at sea and will not provide significant financial benefit to the Russian government,” Bessent stated.

The temporary authorization is set to remain in effect until April 11, unless extended. Officials said the step is intended to maintain stability in global energy markets, keep fuel prices low, and counter regional threats from Iran, without materially increasing revenue for Moscow.

Earlier, amid rising global oil prices caused by ongoing conflict involving Iran and disruptions to Persian Gulf exports, the United States allowed India to resume purchases of Russian oil, highlighting efforts to stabilize supply in international markets.

As previously reported, U.S. Navy ships may begin escorting tankers through the Strait of Hormuz by the end of March.

This is intended to protect vessels from drone and missile strikes from Iran. Increasing oil supplies from the Persian Gulf countries is expected to lower global prices.

.@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime.

To increase the global reach of existing supply, @USTreasury is providing a temporary…

— Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026