Washington, 13 March 2026 (dpa/MIA) - The United States on Thursday issued a temporary licence allowing countries to buy Russian oil currently stranded at sea as Washington seeks to stabilize energy markets shaken by the war involving Iran.

Treasury Secretary Scott Bessent said in a post on X that the measure was intended "to increase the global reach of existing supply."

"This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction," he said.

The licence authorizes the delivery and sale of Russian crude oil and petroleum products that were already loaded onto vessels as of March 12, according to a document issued by the Treasury Department's Office of Foreign Assets Control.

The authorization remains in force until midnight Washington time on April 11.

The move comes as energy markets have been rattled by the war in the Middle East. Shipping through the Strait of Hormuz, one of the world's most important routes for global oil exports, has slowed sharply amid fears of Iranian attacks.

Earlier this month, the United States granted India a 30-day waiver allowing the purchase of Russian oil already at sea.

Photo: MIA archive