Amid unprecedented global oil supply shocks and record-high prices driven by Middle East conflict, the U.S. Treasury has issued a temporary one-month license allowing the sale of Russian crude and related transactions previously stranded at sea.Treasury Secretary Scott Bessent described the measure as narrowly tailored to increase global supply and stabilize markets, though critics and analysts like Edward Fishman warn it could effectively roll back sanctions and significantly boost Russia's energy revenues and tax receipts.The decision faces opposition from Congressional Democrats and EU leaders who argue it undermines pressure on Moscow, even as the International Energy Agency labels the current disruption the largest oil supply shock in history.This move authorizes all related transactions, including insurance, crewing, flagging, and salvage, for approximately 130 million barrels of
Russian crude previously adrift without buyers.