U.S. allows temporary purchases of Russian oil already at sea

NoodlesOrTokens · 2026-03-13T00:25:28+00:00

The U.S. has authorized the temporary purchase of Russian oil stranded at sea to stabilize energy markets amid ongoing conflicts. This short-term measure is designed to have minimal financial benefit for Russia.

NoodlesOrTokens

2026-03-13 00:25:28

Abstract generation in progress

In this article

Follow your favorite stocksCREATE FREE ACCOUNT

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.

This is breaking news, please check back for updates.

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.