economy
March 14, 2026
FACTBOX: What is known about US softening of sanctions against Russian oil
US Treasury Secretary Scott Bessent claimed that Russia would not benefit significantly from the temporary easing of sanctions
TL;DR
- US Treasury Department eased sanctions on Russian oil and petroleum products loaded before March 12.
- Transactions are authorized until April 11, 2026.
- The decision aims to reduce global energy costs by increasing supply.
- US Treasury Secretary Scott Bessent believes Russia will not significantly benefit.
- Approximately 100 million barrels of Russian oil are affected by this easing.
- The exemption does not apply to transactions involving Iran.
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