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Middle East War: US Lifts Sanctions On Russian Oil To Stabilize Global Crude Prices
Posted
March 13, 2026
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2,905
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March 13, 2026
2,905
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3:21Now PlayingThe US Treasury Department on Thursday (Mar 12) announced a temporary 30-day waiver on sanctions for Russian oil currently at sea, a move aimed at stabilising global energy markets as prices hover near $100 per barrel amid the Iran war. Treasury Secretary Scott Bessent confirmed the exemption will remain in effect until April 11, 2026, allowing hundreds of millions of barrels of crude to reach buyers. This "emergency release" comes as the Donald Trump administration scrambles to offset the supply shock caused by the ongoing Iran War and the blockade of the Strait of Hormuz.
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