NEW YORK, March 13. /TASS/. The US decision to lift sanctions on sales of Russian oil and oil products loaded on board of ships before March 12 is a step in the right direction, CEO of US-based Navigator Principal Investors Kyle Shostak told TASS.

"From the standpoint of the market logic, General License 134 authorizing supplies and sales of crude oil and oil products of the Russian origin loaded on board of ships as of March 12, 2026 is certainly a step in the proper direction," he said.

US authorities made such a step because of concerns regarding the inflation shock, primarily for the US economy, in connection with closing of the Strait of Hormuz, Shostak noted. Measures taken by Washington does not require any further efforts of the US in the form of subsidies, rerouting of warships to escort vessels or insurance. "All that will not be needed in the case with Russian oil, which, according to the US logic, will reach its end buyers on its own, mainly India, China, and Southeast Asian nations," the CEO added.