US issues 30-day waiver allowing countries to purchase sanctioned Russian oil

US issues 30-day waiver allowing countries to purchase sanctioned Russian oil The United States issued a 30-day waiver allowing countries to purchase sanctioned Russian oil currently stranded at sea, in a move aimed at stabilising global energy markets shaken by the war involving Iran, Reuters news agency reported. Treasury Secretary Scott Bessent said the measure was intended to ease supply pressures as oil prices surged following disruptions in the Middle East, as shipping through the Strait of Hormuz has been disrupted by the conflict, sending global energy prices sharply higher. Washington has also announced the release of 172 million barrels from the US Strategic Petroleum Reserve as part of a broader plan by the International Energy Agency to release about 400 million barrels to calm markets.