However, this decision will be temporary due to the war with Iran.
The U.S. may lift some sanctions on Russian oil, stated the Treasury Secretary. Due to the tense situation in the global oil market, which has arisen from the war between Israel and the U.S. with Iran, Washington may ease sanctions against Russian oil, said Treasury Secretary Scott Bessent to Fox News.
"Hundreds of millions of barrels of Russian crude oil are on the water," he said. "By essentially freeing them from sanctions, we can increase supply. And we are considering such a possibility."
On March 6, the U.S. exempted Indian refineries from the ban on purchasing Russian oil already loaded onto tankers for 30 days. Bessent promised to continue reporting on measures aimed at alleviating the market situation during the war in Iran.
