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US lifts sanctions on Russia as global oil price spikes

The US has temporarily suspended a Russian oil ban to cool energy markets as crude prices continue to soar after US-Israel attacks on Iran

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

US de-facto admitted that Russian oil crucial for market stability

Kirill Dmitriev says that the abolishment of restrictions concerns about 100 million barrels of Russian oil

U.S. temporarily lifts sanctions on Russian oil as Middle East war drives up energy prices

The United States has temporarily eased sanctions on Russian oil that is currently at sea. The exemptions, issued by the Treasury Department on Thursday, will remain in effect until April 11.

Russia, US have similar interests in stabilizing energy markets now

Dmitry Peskov noted that the Kremlin sees the actions of the American side as an attempt to stabilize energy markets

How Russia and the US secured a sanctions waiver for Russian oil

Russian envoy Kirill Dmitriev likely played a key role in securing a US sanctions waiver on Russian oil amid the ongoing US-Israeli war on Iran

US temporarily eases sanctions on Russian oil

US authorities have allowed third countries to buy Russian oil and petroleum products loaded onto tankers before March 12 and currently at sea, for a period of one month. This measure, according to US Treasury Secretary Scott Bessent, will not bring significant financial benefit to the Russian government. However, US authorities hope to stabilize global energy prices, which have been rising due to the war with Iran. Approximately 124 million barrels of Russian oil are currently at sea, enough to meet global market needs for only five to six days. Analysts estimate that if the average price of Russian oil is between $70-80 per barrel, Russia could receive an additional $3.3-4.9 billion in revenue by the end of March, with daily additional income potentially reaching $150 million due to rising prices caused by the US and Israel's conflict with Iran.