WASHINGTON — The United States may consider lifting sanctions on additional Russian oil shipments to help ease a temporary global supply shortage, Treasury Secretary Scott Bessent said Friday.Speaking to Fox News, Bessent said the Treasury Department is evaluating whether more sanctioned Russian crude could be allowed into the market to stabilize global energy supplies.The comments follow a US decision to grant a temporary 30-day waiver allowing Indian refiners to purchase Russian oil to maintain global supply.“The Indians had been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did,” Bessent said.He noted that India had planned to replace the purchases with US crude, but Washington allowed limited imports of Russian oil to help address the supply shortfall.Bessent said the Treasury Department is now reviewing whether additional shipments currently under sanctions could be released.“There are hundreds of millions of barrels of sanctioned crude on the water,” he said. “By unsanctioning them, Treasury can create supply.”He added that the US Department of the Treasury will continue exploring measures aimed at easing pressure on global energy markets.The remarks come as tensions in the Middle East disrupt shipping through the Strait of Hormuz, a key route for global oil and gas trade.Traffic through the waterway has slowed sharply following US-Israeli strikes on Iran and Tehran’s retaliatory attacks, fueling concerns about global supply and pushing oil prices higher.
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