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Bessent says US considers lifting more sanctions on Russian oil to ease global supply gap
The U.S. issued a 30-day waiver letting India buy stranded Russian oil to ease global supply shortages amid Middle East tensions, with India sourcing 20% of imports from Russia.
- AP reporting on Friday said Washington is considering lifting sanctions on more Russian oil and the U.S. Treasury Department permitted India to resume purchases amid supply concerns.
- After the February 28 strikes, Iran's retaliation disrupted regional shipping around the Strait of Hormuz, sharply tightening supplies and pushing crude and gas prices up this week.
- Treasury can 'unsanction' oil to create supply, as licences authorising transactions through April 3, 2026, allow vessels with stranded cargoes to move, Bessent said.
- U.S. Energy Secretary Chris Wright called it a short-term measure, but Senate Democrats criticised the easing, warning it could financially benefit the Russian government and aid its war effort.
- India, which imported about 20 per cent of its crude from Russia in February—around 1.04 million barrels per day—says stocks are comfortable and are being replenished daily, monitoring supplies closely.
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Will Russia's joy be short-lived? US Energy Secretary Chris Wright stated that Washington has no intention of abandoning its sanctions policy against Russia. He predicted that the current oil price easing will not last long, according to RBC-Ukraine, citing his comments to CNN. Read also: Trump Extends Sanctions Against Russia for War with Ukraine As is known, the US recently granted India a 30-day permit to purchase Russian oil due to a shortag…
Government authorities of Donald Trump said that the exemption granted last week to allow Russian oil purchases by India will help alleviate pressure on the global market
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Total News Sources62
Leaning Left11Leaning Right17Center10Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 29%
C 26%
R 45%
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