Officials say the decision is part of broader efforts by the administration of President Donald Trump to control rapidly increasing energy prices.

Energy markets have faced serious pressure following recent US and Israeli strikes on Iran and the strong response from Tehran.

The situation has created security concerns in the region and affected shipping through the Strait of Hormuz, one of the world’s most important routes for oil and gas transportation.

Disruptions in shipping through the Strait of Hormuz have slowed the movement of energy supplies from the Middle East to global markets. This situation has pushed oil prices higher and increased fears of a wider energy crisis.

US Treasury Secretary Scott Bessent said the temporary exemption will apply only to Russian oil shipments that are already at sea.

He explained that the decision was taken to prevent sudden disruptions in global oil supply.

Bessent also said the move is not expected to provide significant financial benefit to Russia. According to him, oil and gas production in the United States has reached record levels in recent years.

He said strong domestic energy production will continue to support the US economy in the long term.

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Meanwhile, the United States has also taken another major step to control rising energy prices.

Washington announced that it would release 172 million barrels of oil from the Strategic Petroleum Reserve.

Officials said the move is intended to increase oil supply in global markets and reduce price pressure. The release of oil is also part of a broader plan coordinated with the International Energy Agency.

The 32-member organization has pledged to release a total of 400 million barrels of oil to stabilize global energy markets.

Energy experts say such coordinated measures are often used during global supply disruptions to calm markets and avoid sharp price increases.