US Softens Sanctions on Russian Oil as Prices May Hit $200 Per Barrel

The United States has temporarily eased restrictions on Russian oil shipments, allowing nearly 100 million barrels already in transit to be sold and delivered to global buyers. The decision comes as oil prices surge and geopolitical tensions in the Middle East threaten global energy stability. The move was confirmed in a general license issued by the Office of Foreign Assets Control of the US Department of the Treasury. The license authorizes transactions necessary for the sale, delivery or unloading of Russian crude oil and petroleum products that were loaded onto vessels before 00:01 Eastern Daylight Time on March 12, 2026. These operations are permitted until 00:01 Eastern Daylight Time on April 11, 2026.