WASHINGTON. – The Government of USA temporarily eased economic sanctions against Moscow on Thursday to allow the oil Russian currently stranded on the high seas be sold to India.
According to a statement, the Department of Treasure issued a license “authorizing the delivery and sale of crude oil and petroleum products of origin from the Russian Federation loaded on vessels dated March 5, 2026 destined for India.”
Transactions are authorized until April 3, 2026.
Treasury Secretary Scott Bessent noted that the waiver was issued “to allow oil to continue flowing to the global market.”
“This deliberately short-lived measure will not provide significant financial benefit to the Russian government, as it only authorizes transactions involving oil that is already stranded at sea,” he posted on X.
The sale to India will “relieve the pressure caused by Iran’s attempt to hold the world’s energy hostage,” he added.
Agreement with the US
India has said it will stop buying Russian oil as part of a trade deal with the United States.
In an effort to pressure Russia over its invasion of Ukraine, US President Donald Trump imposed sanctions on Russian oil companies Lukoil and Rosneft in November.
Those measures, Trump’s most forceful against Russia over the war in Ukraine, led the main buyers of Russian oil to rush to find alternative suppliers.
Russia has reportedly created a flotilla of opaquely owned aging oil tankers to evade sanctions imposed by Washington, the European Union and the G7 group of nations, following the invasion launched against Ukraine in 2022.
