US Lifts Some Russian Oil Sanctions To Ease Global Energy Shortage

The administration of Donald Trump has temporarily allowed countries to purchase certain Russian oil shipments currently stranded at sea, a move aimed at stabilizing global energy markets after prices surged amid the conflict with Iran. According to reporting by CNN, the emergency step comes as the closure of the Strait of Hormuz disrupted a route that carries roughly one-fifth of the world’s oil.

The report said at least 16 ships have been attacked in recent weeks across the Strait of Hormuz and nearby waters. The Islamic Revolutionary Guard Corps has warned it could ignite regional energy infrastructure if Iran’s facilities are targeted.

'At the moment, our interests coincide' — Kremlin spox Peskov on US lifting sanctions on Russian oil

'Without significant volumes of Russian oil stabilization of the market is impossible' pic.twitter.com/aQIIQ7DGeC

— RT (@RT_com) March 13, 2026

Treasury Secretary Scott Bessent said the short-term license only applies to Russian oil already loaded before March 12 and runs through April 11. The measure seeks to increase global supply without delivering major financial benefits to the Kremlin.

Critics including Sen. Jeanne Shaheen argue the move could still boost Moscow’s war finances.

Also Read:

How Escalating War In Iran Could Push Oil Prices Toward $200

Three additional ships were struck in the Persian Gulf overnight as attacks on commercial vessels intensified near the Strait of Hormuz, reported by CNBC. According to the United Kingdom Maritime Trade Operations (UKMTO) center, a container ship was hit by an unidentified projectile about 35 nautical miles north of Jebel

tippinsightsTIPP Staff