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Odaily Says U.S. Treasury Will Authorize Russian Crude Oil Sales

Odaily Says U.S. Treasury Will Authorize Russian Crude Oil Sales

A March 13 update said about 30 tankers carrying Russian crude and refined products became potentially tradable under a temporary U.S. purchase waiver, adding detail on cargo volumes and vessel locations in Asian waters.

Fact Check
The statement is accurately supported by multiple reputable news organizations including CNBC, CoinDesk, and the BBC. Treasury Secretary Scott Bessent explicitly stated that the U.S. would permit the purchase of Russian oil 'stranded at sea' as a temporary measure to counter a sharp spike in global oil prices (which had reached nearly $100/barrel). The reported market reaction, including Bitcoin's rise to approximately $72,000, is also documented in the financial press (CoinDesk).
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Summary

A March 13 update added that around 30 tankers carrying at least 19 million barrels of Russian crude and 310,000 tons of refined products became potentially tradable after a temporary U.S. purchase waiver. The vessels were reported to be in Asian waters, with tracking signals showing them either on standby or heading toward Singapore and Malaysia. This expands on earlier reporting that the U.S. Treasury was temporarily allowing purchases of Russian oil stranded at sea to ease oil price pressure.

Terms & Concepts
  • U.S. Treasury: The U.S. government department responsible for economic and financial policy, including administration of many sanctions-related licenses.
  • Russian crude: Unrefined petroleum produced in Russia that is traded internationally and can be affected by sanctions, waivers, and shipping restrictions.