The economist assessed the temporary easing of US restrictions on the sale of Russian oil

The decision of the US Treasury Department to temporarily lift restrictions on the sale of Russian oil loaded before March 12 is primarily related to the situation on the global energy market and does not mean a strategic change in sanctions policy. Denis Astafyev, an entrepreneur, fund manager and founder of the SharesPro fintech platform, expressed this opinion to Izvestia on March 13.

According to him, Washington's move was a reaction to a sharp reduction in oil supply after the closure of the Strait of Hormuz amid the conflict between the United States and Iran.

"This is not a strategic reversal of the sanctions policy. The United States has actually opened up additional sources of supply wherever possible to make up for the shortfall in the market. Russian oil in this case is just one of the measures, along with the record release of reserves of the International Energy Agency," said Astafyev.

The expert stressed that this is a temporary solution. The license of the US Treasury is valid only until April 11 and applies only to oil shipments that have already been loaded. According to him, this makes it possible to complete the delivery of individual cargoes, but does not mean the opening of a new export channel.

In addition, a significant increase in supply volumes should not be expected. According to Astafyev, in recent years Russia has formed a stable oil export system. In the short term, the effect of the US decision may manifest itself only in individual financial calculations and a small support for the ruble. However, in the long run, the impact will be limited.

Whether it will happen again: Iran has threatened oil for $200

How likely is such a course of events and what consequences can it lead to?

"If more Russian oil starts to enter Western markets through legal mechanisms, this may increase pressure on the price discount and reduce the room for maneuver in the shadow pricing system," the expert explained.

In his opinion, the actions of the American administration are primarily due to economic factors. He noted that Washington is striving to lower energy prices. Astafyev also pointed out that while the Strait of Hormuz remains closed, Russian oil is becoming important for the global market. However, according to him, after the stabilization of the situation in the Middle East, the need for such measures may disappear, and the sanctions pressure may return to its previous volume.

On March 12, the US Treasury Department announced that as part of the changes in the US sanctions policy, an exception was granted for the sale of Russian oil and petroleum products shipped before that day. It was clarified that the new license for the sale of Russian oil will be valid until April 12.

On the same day, Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) and special representative of the President of Russia for investment and economic cooperation with foreign countries, said that the United States had actually recognized that the global energy market could not remain stable without Russian oil.

All important news is on the Izvestia channel in the MAX messenger.