The United States has issued a temporary 30-day general license allowing the most vulnerable countries to access Russian oil currently stranded at sea.

Axar.az reports that US Treasury Secretary Scott Bessent made a statement in a post on X.

"This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed. This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries," he wrote.

He also said that: "It will also help reroute existing supply to countries most in need by reducing China’s ability to stockpile discounted oil."