US Grants License for Russian Oil Sales

The United States has granted a license that allows Russia to supply and sell crude oil and oil products that were loaded onto ships before March 12. This was reported by the U.S. Department of the Treasury’s Office of Foreign Assets Control.

Russia's special representative Kirill Dmitriev stated on March 12 that many countries, including the U.S., are beginning to better understand the important role of Russian oil and gas. He emphasized that Russian energy resources are of systemic importance for the stability of the global economy, and many nations are starting to realize the ineffectiveness of the sanctions imposed against Russia.

The new U.S. license for the sale of oil to Russia is effective until April 12.