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US Relaxes Russian Oil Sanctions Amid Persistently High Crude Prices
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US Temporarily Eases Russian Oil Sanctions Amid High Prices, Ukraine Protests
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CNBC TV18
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14-03-2026, 07:46
US Temporarily Eases Russian Oil Sanctions Amid High Prices, Ukraine Protests
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US temporarily lifts some sanctions on Russian oil shipments for 30 days, citing global crude price concerns due to the Iran war.
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The measure applies to oil loaded on tankers as of Thursday (March 12), aimed at stabilizing markets and keeping prices low.
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US Treasury Secretary Scott Bessent announced the 'narrowly tailored, short-term measure' as part of President Donald Trump's efforts.
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Ukrainian President Volodymyr Zelenskyy criticized the move, estimating it could provide Russia with about $10 billion for the war.
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Despite the easing, Brent crude prices, initially dipping, quickly rose again, remaining above $100 per barrel.
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