Russia: US sanctions relief on Russian oil to stabilise energy market

Moscow — Russian government spokesman Dmitry Peskov stated on Friday (14 March) that the US decision to temporarily ease sanctions against Russian oil aimed to help stabilise the global energy market.

Peskov said the Washington measure aligned with Russian interests and could help calm the energy market amid growing concerns over a worsening global energy crisis.

“Without significant volumes of Russian oil, stabilising the market will be impossible,” Peskov said.

He noted the US exemption applies only to Russian oil already loaded onto vessels before Thursday (12 March) and does not represent a signal for broader sanctions relief regarding Russian oil.

The US Department of Treasury issued a general licence on Thursday (12 March) permitting the shipment of Russian oil already loaded before Thursday to be sold, shipped, or discharged until 11 April eastern time.

Since the US and Israel launched large-scale military operations against Iran on 28 February 2026, shipping activity through the Strait of Hormuz has experienced disruptions, causing international oil prices to spike sharply.

In response, members of the International Energy Agency agreed to release a total of 400 million barrels of oil from strategic oil reserves.