Global oil prices stayed above $100 a barrel Thursday, shrugging off the Trump administration’s earlier decision to temporarily allow the delivery and sale of sanctioned seaborne Russian crude – a waiver aimed at mitigating a surge in prices following its attacks on Iran.
The license, posted to the US Treasury website, applies only to Russian crude and petroleum products loaded on vessels as of March 12 and authorizes those shipments through April 11.
“To increase the global reach of existing supply, @USTreasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea,” Treasury Secretary Scott Bessent wrote on social