US could lift sanctions on more Russian oil, says Treasury Secretary Bessent

U.S. Treasury Secretary Scott Bessent signals possible easing of sanctions on Russian oil, following a 30-day waiver letting stranded crude sales to India continue.

March 07, 2026

Ismail Shakil and Ryan Patrick Jones/Reuters

US could lift sanctions on more Russian oil, says Treasury Secretary Bessent

U.S. Treasury Secretary Scott Bessent speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the Financial Stability Oversight Council's annual report to Congress, on Capitol Hill in Washington, D.C., U.S., February 5, 2026.

Jonathan Ernst/Reuters

Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India.

"We may unsanction other Russian oil," Bessent told Fox Business' "Kudlow" program.

"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," he added.

-Ismail Shakil and Ryan Patrick Jones/Reuters

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