The US government has temporarily eased economic sanctions on Russia to allow the sale of Russian oil currently stranded at sea to India. The US Department of the Treasury, through its Office of Foreign Assets Control, issued a license related to Russia that 'permits the transfer and sale of crude oil and petroleum products of Russian origin loaded on vessels,' the department said in a statement. It added that transactions, including those conducted on vessels prohibited under various sanction regimes, are permitted until April 3, 2026. Treasury Secretary Scott Bessent explained that the exemption was granted 'to enable oil to continue flowing to the global market'.
