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U.S. Treasury Waives Russian Oil Ban Amid Price Surge

3/13/2026

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Summary

Story summary

The U.S. Treasury issued a 30-day waiver allowing countries to buy Russian oil stranded at sea.
The measure aims to stabilize energy markets amid rising oil prices due to the Middle East conflict.
Treasury Secretary Scott Bessent said the waiver covers oil already in transit and will not aid the Russian government.
Critics, including Democratic senators, argue this could enrich Russia and undermine sanctions related to its invasion of Ukraine.

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Story summary

The U.S. Treasury issued a 30-day waiver allowing countries to buy Russian oil stranded at sea.
The measure aims to stabilize energy markets amid rising oil prices due to the Middle East conflict.
Treasury Secretary Scott Bessent said the waiver covers oil already in transit and will not aid the Russian government.
Critics, including Democratic senators, argue this could enrich Russia and undermine sanctions related to its invasion of Ukraine.