The United States has taken another step toward easing oil sanctions on Russia by issuing a license allowing the sale of Russian crude until April 11.
Around 124 million barrels of Russian oil are estimated to be stranded at sea — roughly five to six days of global oil consumption — meaning even a temporary release could ease pressure on global prices as crude climbs above $100 per barrel.
The move comes after Russian presidential envoy Kirill Dmitriev held talks with Donald Trump’s team in Miami, where energy issues were reportedly discussed. The license could be the first practical outcome of those contacts and recent presidential-level discussions, suggesting the sanctions regime on Russian oil may be starting to loosen.
However, European leaders criticized the decision. German Chancellor Friedrich Merz said easing sanctions would be “wrong.”
“There is currently a problem with prices, but not with supply. And in that respect, I would like to know what other factors led t...
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