The US Treasury Department has extended a temporary 30-day license allowing some of the world’s most energy-dependent countries to access Russian oil cargoes currently stranded at sea amid global supply disruptions. The decision, announced Monday by US Treasury Secretary Scott Bessent, comes as rising tensions in the Middle East and disruptions around the Strait of Hormuz continue to tighten global oil supplies and push up prices. US gives temporary nod for stranded Russian oil shipments – What the new license allows Under the temporary authorisation, vulnerable countries will be able to receive Russian crude oil and petroleum products that are already loaded onto ships and stranded at sea.