US May Lift More Russian Oil Sanctions Post-India Waiver: Treasury Secretary Bessent

• US Treasury Secretary Scott Bessent indicated the Trump administration may remove restrictions on additional Russian oil imports.
• This follows a recent decision allowing Indian refiners to buy petroleum from Russia.
• Bessent stated that 'hundreds of millions of sanctioned barrels' of crude oil are at sea, and 'unsanctioning' them could create supply.
• Brent oil prices surged above $90 due to the Strait of Hormuz conflict; the Trump administration announced a $20 billion reinsurance program for tankers.
• Bessent expressed confidence in US efforts against Iran, believing they will prevent 'economic chaos'.