ConfirmedDiplomacy & politicsBackgroundWashington, United States
U.S. temporarily lets buyers take Russian oil already at sea to ease supply crunch
- Mountain Time
- Local time
- 8:32 PM in New York
- Where
- Washington, United States
The Treasury Department issued a one-month license authorizing delivery and sale of Russian crude and petroleum products loaded onto ships on or before March 12. Treasury Secretary Scott Bessent said the narrow measure covers only oil in transit; analysts had estimated about 125 million barrels were at sea.
Why it matters
It was Washington's second Russian-oil carve-out in a week to offset Gulf supply lost to the Hormuz shutdown, and the next day Germany's Friedrich Merz said six G7 members considered it the wrong signal.
Sources (3)
- CBS Newscbsnews.comPublished
- Associated Pressapnews.comPublished
- CBS News (2)cbsnews.comPublished
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