US Treasury Allows More Russian Oil Sales to Help Tame Prices

The US issued a second authorization letting countries buy more Russian oil that’s stuck on tankers due to sanctions, part of the White House’s push to prevent prices from surging.

The temporary move, which widens a waiver given to India last week, only applies to oil already in transit and as such won’t provide significant financial support for the Russian government, Treasury Secretary Scott Bessent wrote in a social media post.

Brent oil has soared about 40% since the Iran war began, driving up fuel prices at the pump globally, including gasoline in the US. The conflict has led to ...