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Stabilization of global energy markets impossible without Russian oil — Kremlin

Dmitry Peskov commented on the easing of US sanctions against Russian oil

MOSCOW, March 13. /TASS/. The situation on global energy markets cannot be stabilized without significant volumes of Russian oil, Kremlin Spokesman Dmitry Peskov said commenting on the easing of US sanctions against Russian oil.

"Of course, such actions will contribute to some degree to stabilizing the market. Because without significant volumes of Russian oil, market stabilization is impossible," he said.

The US Department of the Treasury lifted sanctions on the sale and delivery of Russian oil and petroleum products loaded onto vessels before March 12. The general license published by OFAC authorizes these operations until April 11.

This refers to transactions for sale, delivery, or unloading of crude oil or petroleum products originating from Russia, loaded onto any vessel, including ships blacklisted by the US Treasury Department before 12:01 a.m. EDT (7:01 a.m. Moscow time, or 4:01 a.m. GMT) on March 12, 2026.

Such transactions are permitted until 12:01 a.m. EDT (7:01 a.m. Moscow time, or 4:01 a.m. GMT) on April 11, 2026.

The decision by the US authorities does not apply to any transactions involving Iran, according to the general license.

The US authorities’ decision to exempt Russian oil and petroleum products loaded onto ships by March 12 from American sanctions for a month is aimed at reducing the cost of energy on global markets by increasing its supply, US Treasury Secretary Scott Bessent said. He also claimed that Russia would not benefit significantly from the temporary easing of sanctions.

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United States Dmitry Peskov

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