{"id":1667818,"date":"2026-03-07T01:30:00","date_gmt":"2026-03-07T06:30:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1667818"},"modified":"2026-03-07T01:30:00","modified_gmt":"2026-03-07T06:30:00","slug":"bessent-says-us-may-unsanction-more-russian-oil-amid-energy-crisis","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/bessent-says-us-may-unsanction-more-russian-oil-amid-energy-crisis\/1667818\/","title":{"rendered":"Bessent Says US May “Unsanction” More Russian Oil Amid Energy Crisis"},"content":{"rendered":"

Bessent Says US May “Unsanction” More Russian Oil Amid Energy Crisis<\/span><\/p>\n

\n

Yesterday, when discussing the stunning development that Russia would be granted a one-month license to sell (formerly) sanctioned oil to india while the Straits of Hormuz are blocked, we said that this step is just the start, and precited “unlimited extensions” in the future. We had to wait less than 24 hours for this to come true.<\/p>\n

Speaking to Fox Business, Treasury Secretary\u00a0Scott Bessent\u00a0said the US may lift sanctions on further Russian oil supply <\/strong>after a move Thursday to give Indian refiners the green light to purchase crude from the nation.<\/p>\n

\u201cTreasury agreed to let our allies in India start buying Russian oil that was already on the water,\u201d Bessent said, explaining that “to ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil.\u201d<\/p>\n

NEW: U.S. Treasury Secretary Scott Bessent:<\/p>\n

Due to the temporary global oil gap, we may also unsanction other Russian oil. pic.twitter.com\/dvP6IIsLoQ<\/a><\/p>\n

\u2014 Clash Report (@clashreport) March 6, 2026<\/a><\/p>\n

Bessent said there\u2019s \u201chundreds of millions of sanctioned barrels<\/strong>\u00a0of crude on the water now <\/strong>and in essence, by unsanctioning them, Treasury can create supply,\u201d he said, quoting verbatim what we said on February 19.<\/p>\n

Cushing drained at fastest pace since June while hundreds of millions of barrels are stuck at sea. Vitol will make a trillion $ this year.<\/p>\n

\u2014 zerohedge (@zerohedge) February 19, 2026<\/a><\/p>\n

He was referring to this chart:<\/p>\n

<\/a><\/p>\n

Crude prices surged past $90 a barrel on Friday, rising to the highest level since 2023, as fighting in the region kept tankers away from the Strait of Hormuz, with some traders and energy executives\u00a0warning\u00a0that prices could climb to more than $100 per barrel if the conflict continues and local producers are forced to shut in production.<\/p>\n

Bessent echoed other officials in anticipating the US efforts to defeat Iran will prove victorious. \u201cOur campaign has been overwhelming,\u201d he said. \u201cThey\u2019re trying to create economic chaos, and I don\u2019t think they\u2019re going to be able to do it.\u201d Meanwhile, NBC reported citing anonymous officials, that “Trump has privately shown serious interest in U.S. ground troops in Iran<\/a>.”<\/p>\n

\u201cWe\u2019ve considered all this,\u201d Bessent said. \u201cThis is in the president\u2019s calculus, and things are proceeding as planned.\u201d<\/p>\n

It’s unclear if the president’s calculus also accounts for $3.80 gas at the pump which is what the surge in oil prices will translate to unless there is a quick resolution to the Iran crisis.<\/p>\n

<\/a><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 03\/06\/2026 – 20:30<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/energy\/bessent-says-us-may-unsanction-more-russian-oil-amid-energy-crisis<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bessent Says US May “Unsanction” More Russian Oil Amid Energy Crisis Yesterday, when discussing the stunning development that Russia would be granted a one-month license…<\/p>\n","protected":false},"author":0,"featured_media":1667819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1667818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1667818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1667818"}],"version-history":[{"count":1,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1667818\/revisions"}],"predecessor-version":[{"id":1667845,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1667818\/revisions\/1667845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1667819"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1667818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1667818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1667818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}