The US wants to lift sanctions on Russian oil, in the context of the increase in global prices generated by the situation in Iran
US Treasury Secretary Scott Bessent has announced that the US is considering lifting more sanctions on Russian oil sales in the context of supply problems generated by the situation in the Middle East.
The US could waive sanctions on Russia PHOTO: Shutterstock
The announcement comes a day after Washington temporarily authorized India to buy from Moscow amid rising global oil prices, according to Mediafax.
“We may lift sanctions on other types of Russian oil. There are hundreds of millions of barrels of sanctioned crude on the water. And essentially by lifting sanctions, the Treasury can create a source of supply,” Bessent told Fox Business.
The American official stated that the new measures do not imply the relaxation of restrictions imposed on Moscow in the context of the war in Ukraine, but are only applied in the case of supplies already in transit.
“We will continue to announce measures to ease the market during this conflict,” Bessent told the source.
Oil price surpasses $90 per barrel, highest level since fall 2023
The US Treasury Secretary's announcement comes as the war between the US and Israel against Iran has turned the world's energy and transport sectors upside down, with activity in the Strait of Hormuz being affected.
On Friday, oil prices topped $90 a barrel for the first time since the fall of 2023. Meanwhile, Qatar's energy minister warned that all Gulf oil and gas exporters are expected to halt production within days.
The Qatari official also pointed out that the war in the Middle East could “destroy the world's economies” and that the price of oil will even reach 150 dollars per barrel.
