USA Bessent: Could further ease sanctions on Russian oil
Due to the tense situation on the oil market, US Treasury Secretary Scott Bessent has raised the possibility of further easing sanctions on Russian oil.
07.03.2026, 01:04
SDA
"We could exempt more Russian oil supplies from sanctions," Bessent told Fox Business.
According to Bessent, there are hundreds of millions of barrels of sanctioned crude oil on the water. His ministry could increase global supply by easing the sanctions. This possibility is currently being examined. More oil on the market would counter the recent price rise as a result of the Iran war, according to the logic behind the consideration. "We will continue to announce regular measures to relieve the market during this conflict."
Earlier on Thursday, the US had allowed Indian refineries to buy Russian oil already loaded on tankers for a limited period. The ministry is granting a 30-day exemption to ensure that oil continues to reach the world market, Bessent announced on Platform X.
The global energy markets are currently severely affected by the war in the Middle East. The situation in the Strait of Hormuz is a particular cause for concern. A large proportion of the global oil trade normally passes through the strait. However, shipping traffic through the strait has now almost come to a standstill.
