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US eases some Russian oil sanctions but crude prices stay high
The U.S. exempts 30-day sanctions on Russian oil loaded on tankers to ease price spikes amid supply disruptions, with Russia earning $588 million daily from energy exports, experts say.
- On Friday, March 13, 2026, U.S. Treasury Secretary Scott Bessent announced a 30-day exemption for Russian oil deliveries loaded on tankers as of Thursday, following an earlier reprieve for refineries in India.
- Recent market volatility surfaced when shipping disruptions through the Strait of Hormuz, which carries 20% of global oil, contributed to Brent crude briefly rising above $100 to $103.24 per barrel on Friday.
- Simone Tagliapietra of Bruegel said 'In the short term this slightly increases available supply on the global market, which helps contain the current spike in oil prices', while analysts estimate about 125 million barrels are currently being shipped and Russia's daily earnings reach 510 million euros.
- Ukrainian President Volodymyr Zelenskyy criticized the easing, warning it could provide Russia about $10 billion for the war, while sanctions on Lukoil and Rosneft remain in place.
- Analysts say the limited exemption does not change long-term Russian oil flows as Russia's use of a 'shadow fleet' and prices over $80 per barrel have boosted revenues by 14%.
12 Articles
12 Articles
To the annoyance of Europeans, the US is loosening sanctions on Russian oil - but the price remains very high, and the hope for an early end to the war is getting smaller and smaller.
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Associated Press News
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Investment ExecutiveU.S. eases some Russian oil sanctions but crude prices stay high
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war. Read more...
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