US easing of sanctions on Russian oil to stabilize energy markets: Kremlin

The U.S. decision to temporarily ease sanctions on Russian oil is intended to help stabilize global energy markets, Kremlin spokesperson Dmitry Peskov said Friday, reported Xinhua.

Peskov said Washington's move aligned with Russia's interests and could help calm energy markets as concerns grow over a worsening global energy crisis.

"Without significant volumes of Russian oil, stabilizing the market would be impossible," Peskov said.

He said the U.S. exemption applies only to Russian oil that was loaded onto ships before Thursday and does not signal a broader rollback of oil-related sanctions on Russia.

The U.S. Treasury Department issued a general license Thursday, allowing Russian oil shipments loaded before Thursday to be sold, delivered or offloaded through April 11, Eastern Time.

Since the United States and Israel launched large-scale military operations against Iran on Feb. 28, shipping through the Strait of Hormuz has been disrupted, sending international oil prices sharply higher. In response, members of the International Energy Agency agreed to release a combined 400 million barrels from strategic petroleum reserves.