US expands waiver for Russian crude cargoes

The US Department of Treasury has issued a 30-day authorisation “permitting” countries to purchase Russian oil currently stranded at sea, broadening an initial waiver granted to India as the war in West Asia disrupted energy supplies. US Treasury Secretary Scott Bessent said on Thursday the decision was intended as a limited intervention to stabilise global markets. Global Energy Markets The measure is “a narrowly tailored, short-term measure” that applies only to oil already in transit and “will not provide significant financial benefit to the Russian government”, he said. “@POTUS is taking decisive steps to promote stability in global energy markets…