A group of Democratic senators in the US Congress has urged the administration of US President Donald Trump not to extend the sanctions waiver for Russian oil loaded onto tankers, which is set to

The US has loosened sanctions preventing other countries buying Russian oil and petroleum already loaded on vessels at sea to try to ease the energy supply crunch sparked by the US-Israel war with Iran. US Treasury Secretary Scott Bessent said the "short-term measure" was aimed at promoting "stability in global energy markets".

The United States had earlier imposed strict sanctions on Russia’s oil exports due to the ongoing war in Ukraine. These sanctions were designed to reduce Russia’s earnings and limit its economic strength.

Trump administration may extend waiver allowing purchases of sanctioned Russian oil as global energy prices rise amid conflict and supply disruption concerns.

“India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of US oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” Bessent said in a social media post.

Treasury Secretary Scott Bessent said the US may lift sanctions on further Russian oil supply after a move Thursday to give Indian refiners the green light to purchase crude from the nation.

Washington: The United States is temporarily allowing the sale of Russian oil that is at sea, the Treasury Department said Thursday, as energy prices soared after US-Israeli strikes on Iran plunged the Middle East into war.

Ukraine and its European allies hit out on Friday at a U.S. temporary waiver to ​allow countries to buy sanctioned Russian oil and petroleum products stranded at sea, with Ukrainian President Volodymyr Zelenskiy warning it would fund Moscow's war machine.

The Donald Trump administration has issued a temporary authorization for countries to purchase Russian oil currently “stranded at sea,” a move designed to stabilize global energy markets as tensions from the Iran-U.