The U.S. Department of the Treasury issued a 30-day license authorizing the delivery and sale of Russian crude oil and petroleum products loaded onto vessels on or before March 12 and currently at sea, Reuters reported on March 13. The waiver, which runs through April 11, is intended to ease global energy market strains following disruptions tied to the Iran war.

The move marks the second rollback of sanctions on Russian crude in just over a week. Oil prices had surged above $100 per barrel after U.S. and Israeli strikes on Iran disrupted regional shipping routes, prompting White House concern about domestic economic effects ahead of the November midterm elections. European leaders have publicly opposed relaxing sanctions on Russia at what they describe as a critical phase of the war in Ukraine.