Iran: US Temporarily Allows Sales of Russian Oil

The US has issued a "general license" allowing the sale of Russian oil until April 11, provided that the oil was loaded onto tankers before March 12. This decision comes as oil prices have surged following the outbreak of the American-Israeli war against Iran.

US Treasury Secretary Scott Bessent described the move as a "targeted, short-term measure" that only concerns oil already in transit. An estimated 124 million barrels of Russian oil are at sea.

Oil prices have seen a sharp change since the start of the war in Iran, reaching $120 a barrel. Brent crude closed just above $100 a barrel after Mojtaba Khamenei pledged to keep the Strait of Hormuz closed.

Source: APE