Washington is considering lifting sanctions on some Russian
oil to increase supply as the U.S.–Israeli operation in Iran has paralyzed civilian
shipping in the region, U.S. Treasury Secretary Scott Bessent said on March 6,
as reported
by Reuters.
Bessent made the comments on the Fox Business program Kudlow.
“We may
“There are
His remarks followed a U.S. announcement of a 30-day easing of sanctions that allows India to buy Russian oil already on tankers at sea.
The traffic through the Strait of Hormuz, responsible for
20% of global oil flows, has collapsed to just eight ships passing through the
waterway per day, compared
to an average of 138 normally.