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US Considers Easing Some Sanctions on Russian Oil
(MENAFN) The United States may evaluate the possibility of lifting restrictions on additional shipments of Russian crude oil in order to ease a temporary shortage in global supply, according to comments made by Treasury Secretary Scott Bessent during a television interview on Friday.
The statement follows a recent US decision to grant a limited 30-day waiver allowing refiners in India to continue purchasing Russian oil. According to reports, the step was intended to help stabilize global energy supplies during a period of disruption in international markets.
“The Indians had been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did,” said Bessent.
He explained that India had initially planned to replace those purchases with crude from the United States, but the Treasury Department allowed the temporary imports from Russia to address the current supply imbalance.
Officials are now assessing whether additional shipments of sanctioned Russian crude could be released into the market to help increase available supply.
“We may unsanction other Russian oil,” he said. "There are hundreds of millions of barrels of sanctioned crude on the water ... by unsanctioning them, Treasury can create supply.”
Bessent also indicated that the administration of Donald Trump intends to introduce further measures aimed at reducing pressure on global energy markets.
The remarks come as tensions in the Middle East continue to disrupt major energy routes, particularly shipping through the Strait of Hormuz, one of the world’s most important channels for oil transportation.
According to reports, traffic through the waterway slowed significantly after military strikes carried out by the United States and Israel against Iran and Tehran’s subsequent retaliatory actions. The disruptions have contributed to rising oil prices and increased concerns over the stability of global supply.
The statement follows a recent US decision to grant a limited 30-day waiver allowing refiners in India to continue purchasing Russian oil. According to reports, the step was intended to help stabilize global energy supplies during a period of disruption in international markets.
“The Indians had been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did,” said Bessent.
He explained that India had initially planned to replace those purchases with crude from the United States, but the Treasury Department allowed the temporary imports from Russia to address the current supply imbalance.
Officials are now assessing whether additional shipments of sanctioned Russian crude could be released into the market to help increase available supply.
“We may unsanction other Russian oil,” he said. "There are hundreds of millions of barrels of sanctioned crude on the water ... by unsanctioning them, Treasury can create supply.”
Bessent also indicated that the administration of Donald Trump intends to introduce further measures aimed at reducing pressure on global energy markets.
The remarks come as tensions in the Middle East continue to disrupt major energy routes, particularly shipping through the Strait of Hormuz, one of the world’s most important channels for oil transportation.
According to reports, traffic through the waterway slowed significantly after military strikes carried out by the United States and Israel against Iran and Tehran’s subsequent retaliatory actions. The disruptions have contributed to rising oil prices and increased concerns over the stability of global supply.
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