Finance
US Could Lift Sanctions on More Russian Oil, Says Bessent
Published by Global Banking & Finance Review®
Posted on March 6, 2026
1 min readLast updated: April 1, 2026
Add as preferred source on GoogleGlobal Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 6, 2026
1 min readLast updated: April 1, 2026
Add as preferred source on GoogleUS Treasury Secretary Scott Bessent said on March 6, 2026, the US may lift sanctions on more Russian oil—following a 30‑day waiver allowing India to import Russian crude stranded at sea—as a short‑term step to ease global supply pressures amid Middle East disruptions.
March 6 (Reuters) - Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India.
"We may unsanction other Russian oil," Bessent told Fox Business' "Kudlow" program.
"There are hundreds of millions of sanctioned barrels of sanctioned crude on the water and in essence, by unsanctioning them, Treasury can create supply, and we are looking at that," he added.
(Reporting by Ismail Shakil in Ottawa and Ryan Patrick Jones in TorontoEditing by David Ljunggren and Michelle Nichols)
US Treasury Secretary Scott Bessent suggested the US could remove sanctions on more Russian oil.
The US issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India.
According to Bessent, unsanctioning Russian oil could create supply by making hundreds of millions of sanctioned barrels available.
Bessent made the comments during an interview on Fox Business' 'Kudlow' program.
Lifting sanctions could increase oil supply from Russia, impacting global markets.
Explore more articles in the Finance category
