Price Stabilization or a Crack in Sanctions? The Impact of the New U.S. License on Russian Oil

Geopolitical turmoil in the Middle East – including the conflict with Iran and the paralysis of shipping routes in the Persian Gulf – has forced the U.S. administration to make a temporary adjustment to its commodities policy. Washington has introduced a special 30-day license that permits trade in Russian crude oil and petroleum products already in maritime transit. This mechanism, valid until April 11, applies exclusively to cargoes loaded onto tankers prior to March 12. According to Scott Bessent, this tactical move is crucial for alleviating supply shortages and calming volatile prices on global markets. However, the step has faced harsh criticism from observers who fear it creates a dangerous breach in the sanctions regime aimed at Moscow.