US EditionUS Could Lift Sanctions on More Russian Oil, Says Bessent
U.S. Treasury considers lifting sanctions on millions of barrels of Russian oil to ease global supply shortages and high prices caused by Strait of Hormuz disruptions.
- Treasury Secretary Scott Bessent told Fox Business on March 6 that the U.S. may lift sanctions on more Russian oil, amid surging prices.
- Iran's closure of the Strait of Hormuz halted regional shipping, pushing crude up 8.5 percent on Friday with Brent crude at $92 a barrel.
- Hundreds of millions of sanctioned barrels of crude remain on the water, and Bessent said the U.S. Treasury could unsanction them to create supply, describing the India waiver as deliberate short-term relief.
- The U.S. provided India a 30-day waiver to buy stranded Russian crude, authorizing transactions through April 3, 2026, while President Donald Trump downplayed gas price concerns Friday.
- Washington says the measures target in-transit supplies, while India had earlier pledged to stop buying Russian oil, U.S.-India trade ties include planned tariff cuts to 18 percent.
23 Articles
23 Articles
Bessent Says US Could Ease Sanctions on More Russian Oil
U.S. Treasury Secretary Scott Bessent said on March 6 that the United States may consider easing sanctions on more Russian oil after granting India a 30-day waiver to purchase Russian crude. The Trump administration previously raised tariffs on India over its imports of Russian oil, as the United States seeks to cut off funding for Russia’s war and pressure Moscow to end its war in Ukraine. Bessent said in a Fox Business interview that his depar…
Times of India
The Economic TimesUS Treasury secretary hints at lifting more Russian oil sanctions post India move
US Treasury Secretary Scott Bessent said the US is considering lifting sanctions on more Russian oil to ease global supply after energy markets were disrupted by the US-Israel conflict with Iran. Oil prices surged 8.5% on Friday and nearly 30% for the week as fighting in the Gulf region disrupted activity around the Strait of Hormuz.
Very good actors: Bessent praises India as US weighs 'unsanction' of Russian oil
US Treasury Secretary Scott Bessent said Washington may lift sanctions on more Russian oil shipments, arguing that freeing stranded crude could quickly boost global supply and ease pressure on energy markets.
The U.S. administration announced on the 6th (local time) that it may further ease sanctions on Russian crude oil. In an interview with Fox Business on the same day, U.S. Treasury Secretary Scott Besant mentioned the recent measure to allow India to purchase Russian crude oil, and said, "Sanctions on other Russian crude oil could also be lifted."
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