Treasury Secretary Scott Bessent Eases Russian Oil Sanctions; Energy Secretary Chris Wright Rejects Easing

The United States on Thursday temporarily lifted sanctions on Russian oil that was “currently at sea,” authorizing shipments to buyers worldwide through a narrow, short-term exemption that the Treasury Department said would run until April 11.

“ANCHORAGE, Alaska (KTUU) - The U”

Alaska News Source

In a post on X, Treasury Secretary Scott Bessent framed the move as a temporary authorization “to increase the global reach of existing supply,” while the New York Times reported the exemptions were issued by the Treasury Department and would be in place until April 11.

Alaska News Source

Local reporting in Alaska echoed the change, saying “The U.S. temporarily lifted sanctions late Thursday on Russian oil already at sea” and noting the exemptions run through April 11.

Officials and analysts presented different estimates of how much crude could be freed by the exemption: Bessent told reporters it could add “hundreds of millions of barrels of crude to global markets,” while analysts cited by Forbes estimated the move might open access to roughly 125 million barrels of sanctioned Russian oil that were stranded at sea.

Forbes also emphasized that the authorization is “narrowly tailored” and “applies only to oil already in transit,” language Bessent used to argue the measure would not meaningfully boost Kremlin energy revenues.

Forbes

The New York Times referenced the broader policy reversal as a significant shift from Washington’s earlier, tougher sanctions posture toward Moscow.

The administration framed the exemption as a response to surging energy prices tied to the war in Iran and logistical disruption in key chokepoints: the New York Times said the move aimed to curb prices “that have been hovering near $100 per barrel as a result of the Iran conflict,” and Forbes noted markets remained tight with tankers disrupted in the Strait of Hormuz.

“US allows sale of Russian oil at sea as Middle East war sends energy prices soaring The United States will temporarily allow the sale of Russian oil already at sea, the Treasury Department said on Thursday, as energy prices surged after US-Israeli strikes on Iran triggered war in the Middle East”

France 24

The NYT also reported the administration was exploring other measures to stabilise supply, including offering a "$20 billion maritime insurance backstop through the U.S. International Development Finance Corporation," reflecting a broader push to mitigate energy-market pain while maintaining sanctions pressure on Russia.

Alaska coverage connected the policy to the Trump administration’s efforts to manage the surge in prices driven by the Iran war.

The announcement provoked concern among some observers about undermining sanctions pressure: an Anchorage advocate for Ukrainians, Zori Opanasevych, warned “We have lived through four horrific years when there were sanctions in place,” and added “We know that Kremlin would win from the lift of sanctions.”

Treasury officials pushed back that the step was only temporary and “would not provide significant financial benefit to the Russian government,” language used by Bessent to defend the narrow exemption.

New York Times

Reporting differed on how markets reacted immediately, with Forbes noting the move did not trigger large price changes and the NYT describing it as a significant turning point in America’s sanctions strategy toward Russia.

Neither the New York Times, Alaska News Source, nor Forbes include reporting that names an Energy Secretary Chris Wright or describes an official rejection of easing by an Energy Secretary; the three provided pieces focus on Treasury Secretary Scott Bessent’s announcement, market effects, administration rationale, and local reactions.

“(Reuters) -- The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what U”

Nikkei Asian Review

Because the supplied sources do not mention Chris Wright or any Energy Department rejection, I cannot assert that an Energy Secretary rejected the easing — the available reporting simply does not contain that information.

Nikkei Asian Review