U.S. eases Russian oil sanctions amid global price surge, allows India to purchase stranded crude
The U.S. Treasury grants India a 30-day exemption to purchase Russian crude oil already at sea, aiming to stabilize global markets disrupted by Middle East tensions.
Treasury Secretary Scott Bessent clarifies that this only applies to oil already outside Russian control, preventing significant financial gains for Moscow.
Brent Crude surged past $90/barrel due to U.S.-Iran tensions near the Strait of Hormuz, a critical oil shipping route handling 20% of global supply.
Rising U.S. gas prices (up 34 cents in a week) pressure the administration to ease sanctions, with Trump leveraging energy affordability as a campaign issue.
Bessent hints at future unsanctioning of Russian oil, signaling a possible shift in U.S. strategy amid Middle East instability and market volatility.
Read Full Article: https://www.naturalnews.com/2026-03-11-us-eases-russian-oil-sanctions-global-cost-surge.html
