Washington: The United States has authorized operations involving the sale, delivery, or offloading of crude oil and petroleum products of Russian origin loaded onto tankers, according to a general license published on the website of the Office of Foreign Assets Control (OFAC) of the US Treasury Department.

According to Emirates News Agency, the US Treasury Department issued a fresh license late Friday, allowing countries to purchase Russian oil loaded onto vessels as of April 17 through May 16. This decision renews and replaces an earlier 30-day waiver that expired on April 11.

The extension of the waiver is seen as a strategic move to stabilize the global oil market, which has faced significant disruptions due to ongoing geopolitical tensions. The decision allows for continued transactions involving Russian oil, despite broader sanctions imposed on Russia.

This new waiver comes amid a complex landscape of international sanctions and economic pressures, as countries navigate the implications of purchasing Russian oil. The authorized period provides a limited window for transactions, reflecting the delicate balance of maintaining energy supplies while addressing geopolitical concerns.