March 13, 2026
US temporarily eases sanctions on Russian oil
US authorities have allowed third countries to buy Russian oil and petroleum products loaded onto tankers before March 12 and currently at sea, for a period of one month. This measure, according to US Treasury Secretary Scott Bessent, will not bring significant financial benefit to the Russian government. However, US authorities hope to stabilize global energy prices, which have been rising due to the war with Iran. Approximately 124 million barrels of Russian oil are currently at sea, enough to meet global market needs for only five to six days. Analysts estimate that if the average price of Russian oil is between $70-80 per barrel, Russia could receive an additional $3.3-4.9 billion in revenue by the end of March, with daily additional income potentially reaching $150 million due to rising prices caused by the US and Israel's conflict with Iran.
TL;DR
- US allows third countries to buy Russian oil and petroleum products loaded before March 12 and currently at sea, for one month.
- The measure aims to stabilize global energy markets amid rising prices due to the conflict with Iran.
- US Treasury Secretary Scott Bessent stated the move won't bring significant financial benefit to the Russian government.
- Approximately 124 million barrels of Russian oil are currently at sea.
- Rising oil prices due to the conflict could bring Russia an additional $150 million per day.
- Russia might receive $3.3-4.9 billion in additional revenue by the end of March if oil prices average $70-80 per barrel.
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