March 13, 2026
US temporarily halts sanctions on Russian oil as White House looks to bring down oil prices
Washington has temporarily waived sanctions on some Russian oil and petroleum shipments, the U.S. Treasury Department announced Thursday, removing a tool previously used to pressure Russia to end its war in Ukraine economically.
TL;DR
- U.S. Treasury Department announced a temporary waiver of sanctions on some Russian oil and petroleum shipments.
- This action removes a tool previously used to economically pressure Russia over the war in Ukraine.
- The White House aims to reduce oil prices with this decision.
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