The United States has announced a temporary authorization allowing the sale of Russian oil currently stored aboard tankers. The move aims to ease pressure on the global energy market as the conflict in the Middle East continues to push crude prices higher.

The US Department of the Treasury has issued a license permitting, until April 11, the sale of Russian crude oil and petroleum products that were loaded onto vessels before March 12 at 00:01 local time.

In a statement, US Treasury Secretary Scott Bessent said the decision is intended to temporarily expand the existing supply available on global markets. He stressed that the measure is short term and designed to help stabilize energy supplies.

The US official also noted that the authorization is not expected to generate significant financial gains for the Russian government. He explained that most of the taxes collected by Russia in the oil sector are imposed at the time of extraction.

On the markets, Brent crude, the global benchmark, remained above 100 dollars per barrel around 02:40 GMT on Friday. The price crossed that threshold on Thursday for the first time since August 2022.

The surge in prices comes amid major disruptions caused by the conflict in the Middle East. Tensions in the region have significantly affected the energy and transport sectors, particularly in the Strait of Hormuz, a strategic chokepoint through which nearly one fifth of the world’s crude oil passes.

The US decision is part of a series of temporary relaxations of sanctions imposed on Russia. Last week, Washington also allowed, for a period of one month, the delivery to India of Russian oil cargoes that had been stranded at sea.

The US Treasury Secretary had previously indicated that the administration was considering lifting sanctions on a larger share of Russian oil exports.