U.S.Treasury Authorizes Temporary Russian Oil Measure

The Kabul Tribune (KT) - U.S. Treasury Secretary Scott Bessent said Washington is taking temporary steps to stabilize global energy markets and keep prices low while addressing what he described as “threats and instability caused by Iran.”

To increase global access to existing energy supplies, the Treasury has authorized a temporary, narrowly tailored measure allowing certain countries to purchase Russian oil currently stranded at sea. The measure applies only to oil already in transit.

Bessent emphasized that the measure will not provide significant financial benefit to Russia, as most of the country’s energy revenue comes from taxes collected at the point of extraction.

He described the recent rise in oil prices as a short-term disruption that is expected to benefit the U.S. economy and energy security in the long term.