Iran Iraq US
FILE - A man walks along the shore as oil tankers and cargo ships line up in the Strait of Hormuz, as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026.
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The U.S. is temporarily easing part of its sanctions measures on Russian oil, a reflection of global worries about sharply higher oil prices due to the Iran war. U.S Treasury Secretary Scott Bessent says the U.S. will lift sanctions for 30 days on Russian oil that is already aboard tankers. That means customers in other countries can buy it without worrying about sanctions punishment. The move, intended to soothe jittery markets over the disruption of Middle Eastern oil and gas supplies, underlines how the Iran war has boosted Moscow’s ability to profit from its energy exports, a pillar of the Kremlin’s budget as it presses its invasion of Ukraine.
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