The Trump administration doubled down on efforts to prevent the rising cost of oil becoming a full blown oil price shock by relaxing Russian sanctions

The U.S. has temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets.

The license allows transactions with Russian fuel before April 11

The announcement comes a day after the U.S. Energy Department said that the U.S. would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to…

U.S. eases sanctions on Russian oil, allowing sales through April amid efforts to stabilize rising oil prices.

The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a…

Trump administration announces 30-day waiver on Russian oil stranded at sea as concerns over US-Israel war on Iran unsettles markets

The Trump administration doubled down on efforts to prevent the rising cost of oil becoming a full blown oil price shock by relaxing Russian sanctions

The US said easing sanctions on Russian oil would provide only a limited financial boost to Putin.

Analysts estimate about 125 million barrels of Russian oil are currently being shipped.