economy
March 7, 2026
US Considers Lifting More Sanctions on Russian Oil as Iran Conflict Sees Global Prices Surge
Washington says new measures not aimed at easing restrictions on Moscow and only affect supplies already in transit
TL;DR
- The US Treasury is considering lifting sanctions on additional Russian oil to increase supply.
- Global oil prices surged nearly 30% this week due to the US-Iran conflict and its impact on energy and transport sectors.
- The US temporarily authorized India to purchase Russian oil currently stranded at sea.
- These measures are presented as a way to alleviate market pressure during the conflict.
- Sanctioned crude oil already in transit is a focus for potential release.
- Kremlin economic adviser Kirill Dmitriev discussed the issue with the US, stating Western sanctions are detrimental to the world economy.
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