The United States has issued a new general license that temporarily lifts sanctions on the sale of Russian crude oil and oil products that are loaded onto tankers until March 12. This decision comes in response to the geopolitical situation surrounding the ongoing conflict with Iran and aims to ease some of the pressures arising from the blockade of the Strait of Hormuz due to the military actions of the US and Israel. The general license is valid until April 11.

Previously, US President hinted at the possibility of a partial lifting of sanctions on oil trade due to the war with Iran, although no specific countries were mentioned. The context of this decision reflects the significant impact of the conflict on global oil supply and prices, particularly given that the Strait of Hormuz is a vital transit route for a fifth of the world's oil. The blockade has resulted in a sharp increase in oil prices, contributing to rising energy costs globally.

Sanctions on Russian oil trading were initially imposed following the invasion of Ukraine, indicating the complex interplay of international relations and economic strategies in response to various geopolitical conflicts. The US government’s recent actions suggest a balancing act between supporting its geopolitical allies and managing global oil supply and prices amid increasing tensions in the Middle East.