To ease the pressure affecting global energy markets and supply chains due to disruption in the Strait of Hormuz caused by Iran's attack on oil ships, the U.S. Treasury Department has authorized countries to buy sanctioned Russian oil and petroleum that have already been loaded on vessels bound for importing countries.
The Treasury's Office of Foreign Assets Control, or OFAC, said on Thursday that is has issued a Russia-related General License 134 "authorizing the delivery and sale of crude oil and petroleum products of Russian Federation origin loaded on vessels as of March 12, 2026."
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.