The United States is considering lifting sanctions on additional Russian oil supplies to help stabilize global markets, Treasury Secretary Scott Bessent said Friday, reports AFP.
The comments came a day after Washington temporarily authorized India to purchase Russian oil already stranded at sea, as surging prices rattled global energy markets.
The escalating conflict involving the United States, Israel and Iran has disrupted the world’s energy and transport sectors, with activity in the vital Strait of Hormuz — a key route for global oil shipments — largely halted.
Crude prices surged 8.5 percent on Friday and climbed nearly 30 percent for the week after US President Donald Trump said only Iran’s “unconditional surrender” would end the war in the Middle East.
“We may unsanction other Russian oil,” Bessent told Fox Business.
“There are hundreds of millions of barrels of sanctioned crude on the water. By unsanctioning them, Treasury can essentially create additional supply,” he said.
Washington has insisted the move does not represent a broader rollback of sanctions imposed on Russia over the war in Ukraine, but instead applies only to shipments already in transit.
“We’re going to keep a cadence of announcing measures to bring relief to the market during this conflict,” Bessent added, noting that high oil prices are placing pressure on both US consumers and global markets.
Kirill Dmitriev, an economic adviser to Russian President Vladimir Putin, said he had been discussing the issue with US officials.
“Western sanctions have proven detrimental to the world economy,” Dmitriev wrote in a post on X.
On Thursday, the US government temporarily eased sanctions to allow Russian oil shipments already at sea to be sold to India.
The authorization — which includes cargoes carried by vessels subject to various sanctions regimes — will remain in effect until April 3, 2026, according to US officials.
Bd-pratidin English/ Jisan
