Washington allows sale of oil on Russian tankers at sea

09:16 AM (Mecca time) Argaam

The US issued a new general license allowing the delivery and sale of Russian crude and petroleum products loaded onto tankers at sea before March 12.

 

The US Treasury’s Office of Foreign Assets Control (OFAC) said in a statement on March 19 that the move is intended to allow continued trade of pre-loaded Russian shipments, with a deadline extending to April 11.

 

The decision comes amid ongoing global energy market disruptions, as the near-total closure of the Strait of Hormuz has curtailed crude flows from the Middle East.

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