Overview
- Treasury’s licence covers Russian-origin crude or products loaded on or before March 5 and allows delivery at Indian ports until April 4 if the purchaser is an Indian entity.
- Energy Secretary Chris Wright and Treasury Secretary Scott Bessent urged India to redirect stranded cargoes toward Indian refineries, calling the move a short-term, pragmatic market stabilizer that does not alter Russia policy.
- Congressional Democrats, led by Rep. Sam Liccardo and Sen. Ruben Gallego, pressed for an immediate reversal, arguing the carveout materially benefits Russia and undermines sanctions integrity.
- Hungary urged the European Union to lift bans on Russian oil and gas as prices jump, with Polish leaders questioning whether easing Western curbs would advantage Moscow.
- Vladimir Putin said Russia is ready to supply Europe under long-term terms as Brent spiked above $100, and Bessent signaled the administration may consider additional, targeted relaxations to release more supply.