Scott Bessent, the head of the department, noted on his social media account X that Donald Trump "is taking important steps to ensure stability in global energy markets and maintain low prices." He added that this authorization will allow countries to purchase Russian oil that is at sea, but he called this measure short-term and of little significance for the Russian economy.
According to Kirill Dmitriev, special representative of the President of Russia, the lifting of American restrictions will affect about 100 million barrels of oil, as reported by "Meduza."
It is important to note that at the end of February this year, the U.S. and Israel began military operations against Iran. In response, Tehran is attacking Israel and Washington's allies. Iran has also effectively blocked the Strait of Hormuz, through which a quarter of the world's oil supplies pass. This situation has led to a sharp rise in oil prices, and on March 9, the price of Brent crude reached nearly $120, the highest level since June 2022.
In early March, the U.S. Department of the Treasury announced a 30-day suspension of the ban on the purchase of Russian oil for Indian refineries. At the same time, member countries of the International Energy Agency (including the U.S., Turkey, the UK, and Germany) decided to release 400 million barrels from their strategic reserves, which accounts for one-third of the total reserves. The Iranian Revolutionary Guard Corps (IRGC) warned that "artificially suppressing oil price growth is impossible" and that preparations should be made for prices of "$200 per barrel."
