US may lift sanctions on Russian oil to stabilize market – Bessent
Kyiv • UNN
US Treasury Secretary Scott Bessent announced the possibility of lifting legal and financial restrictions on the sale of Russian fossil fuels. The US is considering allowing buyers to purchase hundreds of millions of barrels of crude oil at sea.
US Treasury Secretary Scott Bessent announced the possibility of lifting legal and financial restrictions on the sale of sanctioned Russian fossil fuels. The minister stated this in an interview with Fox Business Network, writes UNN.
Details
According to Bessent, hundreds of millions of barrels of crude oil are currently at sea, and the department is considering allowing buyers to purchase it. The first step in this direction was Washington's decision to allow India to buy Russian raw materials, which had been blocked in the ocean for the past month.
Mechanisms for unblocking energy resources and new permits
The US may lift sanctions on Russian oil, effectively canceling legal and financial restrictions on the sale of Russian fossil fuels
The US administration plans to use a flexible approach to sanctions policy to ensure access to blocked energy volumes at the global level.
The Treasury Department is ready to issue special licenses that will allow international companies to buy previously prohibited oil without the risk of falling under secondary sanctions. This decision is justified by the need to balance supply in the market and reduce price pressure, despite the ongoing geopolitical confrontation.