US issues temporary waiver to allow purchase of Russian oil stranded at sea

The US has issued a 30-day sanctions waiver. This allows countries to buy Russian oil that is currently stranded at sea, in an effort to stabilize global energy markets.

This move comes amid heightened tensions with Iran, which have raised concerns about potential disruptions to oil shipments through the critical Strait of Hormuz. The waiver is a temporary measure to help manage market volatility.