What happened
In an interview with Fox Business, U.S. Treasury Department official Scott Bessent said the administration is considering allowing the purchase of Russian oil that is already loaded onto tankers and at sea. This is a logical continuation of the March 5 decision, when the U.S. effectively allowed certain partners (notably India) to accept deliveries that had been under sanctions, in order to ease a temporary shortage in the oil market after U.S. and Israeli action against Iran.
“We asked them to stop buying Russian oil that was under sanctions this fall. They did... To ease a temporary global oil shortage, we allowed them to accept Russian oil. We can lift sanctions on other Russian oil.”
— Scott Bessent, U.S. Treasury Department official (interview with Fox Business)
Why this matters for Ukraine
It's not just about oil prices. Russia continues to receive revenues from the sale of energy resources, which it uses to finance the war against Ukraine. Against the backdrop of events around Iran, supplies and prices have become more volatile — and in this context the U.S. decision has a twofold effect.
On one hand, permits for “stuck” shipments can reduce pressure on global prices and temporarily ease the energy situation for partners. On the other — even if this mainly concerns cargoes already at sea, every step that facilitates the export of Russian oil must be assessed through the prism of whether it increases the Kremlin's revenues.
Risks and safeguards
According to Bessent, “hundreds of millions of barrels” of sanctioned crude oil are at sea — so technically additional supply could be created. At the same time, he has previously emphasized that short-term permits that apply only to shipments already in transit “will not provide significant financial benefit to the Russian government.”
To minimize risks, the decision must be accompanied by clear control mechanisms: targeted licenses, tracking of vessels and cargoes, transparent reporting by partners, and coordination among allies. Otherwise, easing the shortage could turn into an additional source of revenue for the aggressor state.
Meanwhile President Zelensky has already warned about Moscow's attempts to increase revenues from energy exports; and in Washington the temporary measures are being accompanied by other steps — including announcements about insuring ships and the possible protection of vessels by the U.S. Navy, which the head of the U.S. administration announced.
Conclusion
Technically, the U.S. decision should reduce the short-term price shock in the energy market. Politically and strategically it presents a task for Ukraine and its partners: to ensure that such exceptions do not become a channel for financing Russian aggression. Declarations alone are no longer enough — control mechanisms and transparency are crucial; on them will depend whether the balance favors market stability or the enemy.
