The U.S. Treasury Department has removed sanctions from three Russian cargo vessels—the Fesco Magadan, Fesco Moneron, and SV Nikolay. These ships were originally sanctioned in 2022 due to their financial connections with Russian banks that fund the country’s defense industry.

The SV Nikolay has a history of transporting stolen resources from Russian-occupied Ukrainian territories. Investigations show the ship has been used to move Ukrainian grain to Turkey, as well as metallurgical coke from occupied Mariupol to Algeria.

The company supplying these illicit exports, Green Rabbit, is reportedly linked to the inner circle of Russian President Vladimir Putin through an advisor connected to his alleged partner, Alina Kabaeva.

In a separate action, the U.S. issued a short-term license (valid until April 11) that permits the delivery and sale of Russian crude oil, provided the cargo was loaded before March 12.

These relaxed restrictions—along with a recent waiver allowing India to buy Russian energy—come at a time when global energy prices are surging due to the U.S.-Israeli conflict with Iran. This spike in prices has inadvertently provided Russia with a massive boost in its oil and gas profits.