Russia’s oil sales ban has been temporarily lifted by the United States. On Thursday, the U.S. Treasury Department confirmed that a license has been issued allowing ships carrying Russian crude oil and petroleum products to operate until April 11.
U.S. Treasury Secretary Scott Bessent commented that this step was taken to maintain stability in the global energy market and keep oil prices low, referring to Iran as a terrorist regime.
The new license will be applicable to oil and petroleum products that were loaded onto ships by March 12.
One day earlier, the US announced that it would release 17 crore 20 lac barrels of oil from its strategic reserves into the market.
Earlier, the US imposed sanctions on Russia’s oil sales following its attack on Ukraine.
Meanwhile, Moscow stated that the U.S. decision proves that without Russian oil, the global energy market cannot remain stable.