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The website of the US Department of the Treasury stated that the United States issued, yesterday, Thursday, a new general license allowing the sale of crude oil and petroleum products from Russia and loaded on ships until April 11.
This license, which includes oil and petroleum products loaded on ships as of March 12, comes one day after the US Department of Energy announced the release of 172 million barrels of oil from the strategic reserve in an effort to curb the sharp rise in crude prices as a result of the war on Iran.
The US Treasury said that this short-term measure only applies to oil that is already being transported and will not bring significant financial benefit to the Russian government.
Russian President Vladimir Putin said on Monday that oil production linked to supplies through the Strait of Hormuz “may stop completely within the next month,” stressing that his country will continue to supply reliable partners with oil and gas, including Hungary and Slovakia.
Putin believed that “if Russia redirects its exports now towards new markets that need increased supplies, it will be able to establish its presence there.”
He also stressed that Moscow is ready to work with the Europeans in the energy sector, but pointed out that “it is necessary to receive signals from the European Union confirming its readiness to provide the necessary stability for this cooperation.”
Earlier, the Executive Director of the International Energy Agency, Fatih Birol, confirmed that global energy markets are going through a “critical transformation phase,” in light of the repercussions of the war on Iran.
On Wednesday, the International Energy Agency proposed withdrawing 400 million barrels of oil, in the largest withdrawal from strategic reserves in its history, with the aim of reducing crude oil prices, which rose sharply in light of the US-Israeli aggression against Iran.
