The Callisto tanker sits anchored in Port Sultan Qaboos as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026.
Benoit Tessier | Reuters
The U.S. has temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets.
U.S. Treasury Secretary Scott Bessent said in a post on X Thursday that this was a “narrowly tailored, short-term measure” that applies only to oil already in transit.
The short-term measure will not provide “significant financial benefit to the Russian government,” Bessent added.
A notice on the Treasury said the exemption would cover Russian crude products loaded on ships on or before 12.01 a.m. Eastern time, and purchases are allowed till April 11, 12.01 a.m.
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