The United States has decided to temporarily lift the embargo imposed on countries regarding the purchase of Russian crude oil.
According to a statement issued by the United States Department of the Treasury, countries around the world have been granted permission to purchase Russian crude oil and petroleum products that are currently on sea-going vessels until April 11, when those shipments arrive at their destinations.
The Treasury Department stated that this decision was taken with the aim of maintaining stability in the global energy market during the ongoing conflict involving Iran.
Earlier, the United States had also taken steps to provide a 30-day grace period for Indian refiners to purchase Russian oil.
Accordingly, the Office of Foreign Assets Control of the United States Department of the Treasury has granted permission to distribute and sell crude oil and petroleum products belonging to the Russian Federation in India from March 5 to April 3.
