Treasury Secretary Scott Bessent indicated Friday that the United States may eliminate sanctions on additional Russian oil supplies, following Washington’s decision to grant a 30-day exemption permitting Russian crude oil stuck at sea to be sold to India.
Speaking on Fox Business’ “Kudlow” show, Bessent stated, “We may unsanction other Russian oil.”
The Treasury Secretary explained that vast quantities of restricted oil remain in limbo on vessels worldwide. “There are hundreds of millions of sanctioned barrels of sanctioned crude on the water and in essence, by unsanctioning them, Treasury can create supply, and we are looking at that,” Bessent said.
The comments come as the administration weighs options for addressing global oil markets and supply concerns.
