Trump temporarily eases Russian oil sanctions amid global price surge

The United States has introduced a short-term measure allowing countries to purchase Russian oil cargoes that are already in transit, as Washington seeks to limit turbulence in global energy markets following the escalation of the conflict involving Iran.

According to U.S. officials, the decision will remain in place until April 11 and applies only to Russian oil currently being transported by sea. Treasury Secretary Scott Bessent described the measure as narrowly focused and temporary, saying it is intended to ease pressure on global energy supplies.

Energy markets have been under strain after Iran effectively shut down the Strait of Hormuz, a key route through which roughly one-fifth of the world’s oil normally passes. The closure has blocked around 10 million barrels of oil per day from reaching global markets and driven the price of Brent crude above $100 per barrel.

Officials in Washington said the decision is part of broader efforts to maintain stability in energy markets while supply disruptions continue. Around 124 million barrels of Russian oil are currently being transported on tankers worldwide.

Russian officials welcomed the move. Kremlin spokesperson Dmitry Peskov said Moscow recognized Washington’s efforts to stabilize energy markets, while presidential envoy Kirill Dmitriev called for further easing of restrictions on Russian energy exports.

The announcement also drew criticism from several European leaders who expressed concern that relaxing sanctions could increase Russia’s financial resources during the ongoing conflict in Ukraine. Ukrainian President Volodymyr Zelenskyy said the decision would strengthen Russia’s position and would not contribute to peace efforts.

Some European governments indicated they would maintain their own restrictions on Russian oil despite the U.S. move.

The latest developments reflect the complex challenges facing policymakers as geopolitical tensions affect global energy supplies. In response to rising prices, the International Energy Agency recently agreed to release 400 million barrels from strategic reserves, although the step has so far had limited impact on oil markets.

Earlier, Qazinform News Agency reported that the United States is considering a temporary waiver of the century-old Jones Act to ease domestic shipping restrictions as fuel prices rise amid disruptions linked to tensions in the Middle East.