US eases Russia oil sanctions as Iran war pushes up energy prices
US Treasury Secretary Scott Bessent said it was a temporary measure to "promote stability in global energy markets" during the war. The authorisation will last until 11 April. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The US has temporarily eased sanctions on Russian oil for vessels already at sea, aiming to stabilize global energy markets amid the ongoing conflict with Iran. This measure is in response to escalating tensions in the Gulf and disruptions to vital shipping routes.
- The authorization allows the purchase of sanctioned Russian oil and petroleum loaded on vessels at sea, lasting until April 11.
- US Treasury Secretary Scott Bessent stated it's a temporary measure to "promote stability in global energy markets."
- Attacks on shipping in the Gulf have driven oil prices back above $100 a barrel, prompting actions like the International Energy Agency's commitment to release 400 million barrels of oil.
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US Eases Russia Oil Sanctions as Iran War Disrupts Global Supply - March 2026
The US has temporarily eased sanctions on Russian oil for vessels already at sea, aiming to stabilize global energy markets amid the ongoing conflict with Iran. This measure responds to escalating tensions in the Gulf and disruptions to vital shipping routes. The International Energy Agency reports the global oil market is experiencing its largest supply disruption in history due to the escalating Middle East conflict. Meanwhile, Kenya's agricultural exports, particularly meat, face significant disruption from the ongoing Middle East conflict, potentially costing the country up to Sh1.2 billion monthly.
