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US Temporarily Lifts Sanctions on Russian Oil Stranded Amid West Asia Tensions
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US Suspends Russian Oil Sanctions Amid West Asia Tensions, Soaring Prices
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Firstpost
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13-03-2026, 11:21
US Suspends Russian Oil Sanctions Amid West Asia Tensions, Soaring Prices
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Trump administration temporarily suspends sanctions on Russian oil 'stranded at sea' due to West Asia tensions.
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Move aims to curb skyrocketing energy prices caused by Iranian threats against tanker ships.
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US Treasury Secretary Scott Bessent called it a "decisive step" to promote stability in global energy markets.
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The "narrowly tailored, short-term measure" applies to 124 million barrels of oil already in transit, valid until April 11.
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Oil prices surged to $100 per barrel as Iran vowed to keep the critical Strait of Hormuz closed.
Read Full Article on Firstpost in English
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