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Events / US Licenses Russian Oil Amid Iran War
International Oil market intervention

US Licenses Russian Oil Amid Iran War

Analysis based on 90 articles · First reported Mar 02, 2026 · Last updated Mar 17, 2026

Sentiment
40
Attention
8
Articles
90
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The market is impacted by increased volatility in oil prices due to the Iran war and disruptions in the Strait of Hormuz. The United States' actions, including releasing oil reserves and allowing temporary Russian oil purchases, aim to stabilize prices and mitigate supply shocks.

Oil and Gas Shipping Energy
Event Summary

The United States has issued a 30-day license allowing countries to purchase Russian oil and petroleum products currently stranded at sea. This measure, announced by US Treasury Secretary Scott Bessent, is intended to stabilize global energy markets which have been significantly disrupted by the ongoing war involving Iran. The announcement follows the US Energy Department's decision to release 172 million barrels of oil from the Strategic Petroleum Reserve, part of a broader 400 million barrel commitment by the International Energy Agency. The conflict, involving US and Israeli strikes on Iran and Tehran's response, has paralyzed shipping through the Strait of Hormuz, a critical route for oil and gas. President Donald Trump's administration is also considering waiving the Jones Act and has ordered the US International Development Finance Corporation to provide political risk insurance for maritime trade in the Gulf. Iran's Islamic Revolutionary Guard Corps has threatened to block oil shipments from the Gulf if attacks do not cease.

Key Actions
90 United States issued 30-day license for Russian oil purchases Russia
90 United States conducted strikes on Iran Iran
90 Israel conducted strikes on Iran Iran
85 United States released 172 million barrels of oil from Strategic Petroleum Reserve
80 Islamic Revolutionary Guard Corps threatened to block oil shipments from the Gulf
70 International Energy Agency committed to release 400 million barrels of oil
65 Donald Trump considering waiving the Jones Act
60 Donald Trump ordered political risk insurance and financial guarantees for maritime trade United States===U.S. International Development Finance Corporation
Entities Involved
cnt
United States
The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea. This action, along with releasing oil from its Strategic Petroleum Reserve and considering a waiver of the Jones Act, aims to stabilize global energy markets and lower oil prices amidst the Iran war.
Importance 100 Sentiment 30
cnt
Iran
The war involving Iran, including US and Israeli strikes and Tehran's response, has significantly disrupted shipping through the Strait of Hormuz, leading to higher oil and gas prices globally. Iran's Islamic Revolutionary Guard Corps has threatened to block oil shipments from the Gulf.
Importance 90 Sentiment -60
per
Volodymyr Zelenskyy
Volodymyr Zelenskyy criticized the United States' 30-day waiver on Russian oil sanctions, stating it is 'not the right decision' and will provide Russia with about $10 billion for its war efforts. He believes this action strengthens Russia's position and hinders peace.
Importance 90 Sentiment -50
cnt
Ukraine
Ukraine, through Volodymyr Zelenskyy, strongly opposes the United States' waiver on Russian oil sanctions, viewing it as detrimental to its war efforts against Russia. Ukraine is also offering its drone expertise to the United States and Gulf partners in exchange for high-end weaponry.
Importance 90 Sentiment -50
govactor
United States===White House
The United States===White House is actively seeking solutions to mitigate soaring energy prices caused by the Iran conflict, indicating concern over the economic and political repercussions. Their actions, including requesting policy options from various agencies and providing insurance for maritime trade, aim to stabilize markets and prevent further price increases.
Importance 90 Sentiment -30
cmdt
Petroleum
Petroleum futures climbed above $90 a barrel, with U.S. prices rising more than 12% due to supply constraints from the Iran conflict and the closure of the Strait of Hormuz.
Importance 90 Sentiment 50
cmdt
Gasoline
Gasoline prices in the U.S. have surged, reaching levels not seen since late 2024, with the national average for regular unleaded climbing above $3.30 per gallon.
Importance 85 Sentiment 40
+ 36 more entities View on Dashboard
Relationships
Scott Bessent related ↔ United States
Donald Trump related ↔ United States
United States related ↔ United States===United States Department of Energy
United States related ↔ United States===United States Department of the Treasury
United States related ↔ United States===U.S. International Development Finance Corporation
United States related ↔ United States===United States Navy
Stephen Miller related ↔ United States
Iran related ↔ Islamic Revolutionary Guard Corps
United States related ↔ Russia
United States related ↔ Iran
+ 54 more relationships View on Dashboard
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