The United States has temporarily lifted sanctions on Russian oil “currently stranded at sea,” Treasury Secretary Scott Bessent said. “@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime,” Bessent said. “To increase the global reach of existing supply, @USTreasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea. This narrowly tailored, short-term measure applies only to oil already in transit and 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 continued. “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. The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term,” he added. .@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime. To increase the global reach of existing supply, @USTreasury is providing a temporary… — Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026 The Hill shared further: The action comes almost a week after the administration lifted restrictions allowing India to buy Russian oil for 30 days. On Wednesday, Trump said he would tap into the U.S.’s stockpile, releasing 172 million barrels of oil from the Strategic Petroleum Reserve. A group of Democratic senators on the Senate Committee on Banking, Housing and Urban Affairs sent a letter earlier this week to the committee’s chair, Sen. Tim Scott (R-S.C.), demanding answers on the Trump administration’s moves to ease sanctions on Russian oil reserves. The minority members on the committee, including Sen. Elizabeth Warren (D-Mass.), requested a congressional hearing with Bessent by the end of March. Energy prices have spiked since the U.S. began its strikes on Iran, which straddles the Strait of Hormuz, a key oil shipping channel. A statement attributed to the newly selected Iranian supreme leader, Mojtaba Khamenei, on Thursday asserted that the strait will remain closed until the war is over. “The United States is effectively acknowledging the obvious: Without Russian oil, the global energy market cannot remain stable,” said Vladimir Putin’s special envoy Kirill Dmitriev, according to NBC News. “The EU’s 20th sanctions package against Russia needs to be unblocked, especially in light of the U.S. decisions to partially ease sanctions on Russian oil that is currently sitting on tankers at sea,” Volodymyr Zelenskyy commented. “Even this single easing by the U.S. could give Russia roughly ten billion dollars for its war. And that definitely does not help peace. Lifting the sanctions will, in any case, strengthen Russia’s position. We hear signals that this is intended to stabilize the situation, but in my view, the logic is completely different – what matters is that Russia is spending this money on weapons, primarily drones, which target Ukrainians on a massive scale,” he continued. “And as we already see from intelligence reports, these same drones are also used against Iran’s neighbors, countries in the Middle East, and against Europeans and Americans present at various bases there. So lifting sanctions only to end up with more drones flying at you, in my opinion, is simply not the right decision,” he added. The EU’s 20th sanctions package against Russia needs to be unblocked, especially in light of the U.S. decisions to partially ease sanctions on Russian oil that is currently sitting on tankers at sea. Even this single easing by the U.S. could give Russia roughly ten billion… pic.twitter.com/GrFKNeBD0W — Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) March 13, 2026 NBC News has more: On X early Friday, Dmitriev posted a waving Russian flag alongside the caption: “Buy Russian oil and gas to maintain a balanced energy supply.” Dmitriev had been in the U.S. meeting with Trump’s team earlier in the week. Putin’s spokesperson Dmitry Peskov, meanwhile, told reporters that Russia recognized Washington’s “attempt to stabilize energy markets,” and “in this respect, our interests coincide.” Sergei Markov, a former Putin adviser turned commentator, said “the minor easing won’t achieve much” but as a reversal of a wider trend — from tightening sanctions to easing them — “it’s significant.” The Ukraine government “is in mourning” at the news, he wrote on the Telegram messaging app. Later Friday, during a visit to Paris, Ukrainian President Volodymyr Zelenskyy said easing sanctions on Russia was “not the right decision” and “does not help peace” as it would “lead to a strengthening of Russia’s position.” This Russian positivity was not shared across Europe, however. The British government was among those saying Friday that it will keep its own sanctions against Russian oil, while fearing the consequences of the Trump administration’s decision.