US considers lifting more sanctions on Russian oil as Iran conflict sees global prices surge
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Amid surging global oil prices due to the US-Iran conflict, the US Treasury is considering lifting sanctions on more Russian oil to increase supply. Treasury Secretary Bessent stated this action aims to alleviate market pressures, not ease restrictions related to the Ukraine war. This follows a temporary authorization allowing India to purchase stranded Russian oil until April 2026. The US government insists these measures are to provide market relief during the conflict, as high oil prices negatively impact both domestic and international markets. Kremlin economic advisor Dmitriev confirmed discussions with the US, arguing that sanctions have harmed the global economy.
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AI-ExtractedTransactions are authorized through the end of the day 3 April 2026.
The US government temporarily eased sanctions to allow Russian oil to be sold to India.
US treasury secretary Scott Bessent said his government was considering lifting sanctions.
US considers lifting sanctions on more Russian oil.
Western sanctions have proven detrimental to the world economy.
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