The U.S. Allowed for Easing Sanctions on Russian Oil 0 20

He reminded that due to a temporary oil shortage in the global market, the U.S. allowed India to "accept Russian oil" for 30 days.

"We may also lift sanctions on the supply of other Russian oil. There are hundreds of millions of barrels of sanctioned oil at sea, and by lifting sanctions on it, the Treasury Department can create supply. We are considering this," said Bessent.

On March 5, the U.S. Treasury announced that it lifted the ban on purchasing Russian oil for Indian refineries for 30 days. This decision was made to "ensure a steady flow of oil to the global market." "This deliberately short-term measure will not bring significant financial benefits to the Russian government, as it only allows transactions for oil that is already at sea," claimed Scott Bessent.