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US Waiver Unlocks 19M Barrels of Russian Oil for Buyers

Bloomberg Markets •
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A US waiver has freed up approximately 19 million barrels of Russian crude oil and fuel from about 30 tankers in Asian waters, making these cargoes available for purchase. The temporary waiver applies specifically to oil that was already at sea when the sanctions were imposed, allowing buyers to proceed with transactions that had been frozen.

This move comes as global energy markets grapple with supply constraints and price volatility. The waiver could help alleviate some pressure on Asian refiners who had purchased the oil but faced uncertainty about completing the transactions. The cargoes represent a significant volume that could help stabilize regional fuel supplies.

The waiver's timing suggests efforts to balance sanctions enforcement with practical market considerations. By allowing these specific cargoes to be delivered, US authorities may be aiming to prevent broader market disruptions while maintaining pressure on Russia's energy sector. The decision highlights the complex trade-offs involved in energy sanctions policy.