US Treasury Secretary Scott Bessent announced that the US Treasury Department will issue a 30-day general license allowing access to Russian oil currently blocked at sea.
In a post on X, Bessent said the measure is intended to provide additional flexibility for affected countries and that US authorities will work with them on specific licenses as needed.
He described the decision as part of a broader geopolitical strategy aimed at redirecting Russian crude oil supplies away from strategic rivals, particularly China.
According to him, the license will help stabilize the physical oil market and supply countries that are more vulnerable in terms of energy security, while at the same time limiting China’s ability to benefit from purchasing Russian oil at discounted prices.
