The United States has issued a temporary waiver allowing countries to purchase certain Russian oil supplies currently stranded at sea in a move aimed at easing soaring global oil prices.
This was disclosed by U.S. Treasury Secretary Scott Bessent in a statement posted in the early hours of Friday, March 13, 2026, on his X account.
The waiver applies specifically to Russian-origin oil shipments that are already in transit across global waters but unable to reach buyers due to existing sanctions and geopolitical disruptions.
Bessent said the measure was designed to temporarily expand available supply in the global market while limiting any financial gain for Moscow.
“To increase the global reach of existing supply, U.S. Treasury Department is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea,” he said.
According to him, the authorization is narrowly structured and only applies to oil that is already moving through international waters.
He added that the measure “applies only to oil already in transit” and would not significantly benefit the Russian government, noting that it “will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction.”
Bessent also said the recent spike in oil prices was temporary and would eventually benefit the U.S. economy in the long run.
“President Trump’s pro-energy policies have driven U.S. oil and gas production to record levels, contributing to lower fuel prices for hardworking Americans,” he said, adding that the temporary increase in oil prices represents “a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term.”
