The administration of US President Donald Trump is already evaluating the possibility of lifting sanctions on Russian oil. The White House says it wants to increase supply on the global market to prevent a shortage.
Points of attention
- Amidst escalating tensions in the Middle East and the situation in the global energy market, the US is strategizing measures to alleviate market instability.
- The granting of a 30-day permit to India to purchase Russian oil and the potential lifting of sanctions signal key developments in the ongoing scenario.
The US is once again easing pressure on Russia
US Treasury Secretary Scott Bessant made an official statement on this matter.
The latter began to claim that Donald Trump's team was forced to respond to a critical shortage of raw materials.
What is important to understand is that on March 6, official London already granted India a 30-day permit to purchase Russian oil, which is on tankers at sea.
We can lift sanctions on other Russian oil. The Treasury Department can do something else: there are hundreds of millions of barrels of sanctioned crude oil floating around. Essentially, by lifting sanctions on them, Treasury can create an offer. And we are looking at that.
Scott Bessent
US Treasury Secretary
Against this background, an American official also announced that the US would continue to announce measures to alleviate the market situation during the war in the Middle East.
As mentioned earlier, the situation on the global energy market began to deteriorate rapidly after February 28, when Iran attacked a number of Middle Eastern countries and blocked the Strait of Hormuz following the start of a military operation by the US and Israel.
