The United States has temporarily lifted sanctions on Russian crude oil and petroleum products, allowing their sale until April 11. The US Treasury Department announced that shipments already loaded on vessels by March 12 can be traded freely on global markets. The decision follows a joint US-Israeli strike on Iran, after which Iran closed the Strait of Hormuz, raising fears of a global energy shortage.

According to the US Commerce Ministry, the move is part of President Donald Trump’s initiative to stabilize global energy markets while addressing potential threats from Iran. The ministry emphasized that the temporary measure applies only to Russian oil and petroleum products already loaded before the deadline.

The Strait of Hormuz handles about 20 percent of the world’s oil supply, serving as a key route for exports from Saudi Arabia, the UAE, Qatar, and Iraq. The temporary easing of sanctions aims to mitigate disruptions in global energy supply caused by the regional conflict and trade restrictions.