US Treasury Secretary Scott Bessent said it was a temporary measure that will last until 11 April.
The Treasury Department made it easier Friday for U.S. businesses and farmers to buy Venezuelan fertilizer and oil as their prices rise because of the Iran war, Axios has learned.Why it matters: The bottleneck of tankers in the Persian Gulf because of Iranian attacks has caused the costs of oil and fertilizer, a petrochemical product, to jump. It threatens…
Treasury Secretary Scott Bessent said it was “unfortunate” that the move could benefit Russia, but maintained that it was only for the short term.
It’s not clear yet whether drawing down stockpiles will lower prices.
Oil prices moderated somewhat after the U.S. issued a 30-day license for countries to buy sanctioned Russian oil and petroleum products that were stranded at sea.
The U.S. is temporarily removing sanctions on Russian oil currently stranded at sea, Treasury Secretary Scott Bessent announced late Thursday — the latest move by the Trump administration attempting to stymie soaring energy prices amid the war with Iran. Bessent wrote in a post on the social platform X that the “narrowly tailored” measure “will…
The International Energy Agency estimates global oil supply could fall by 8 million barrels a day this month.
Social media users are furious at Donald Trump for lifting Russia oil sanctions in the fallout from conflict with Iran.
President Donald Trump appears confident that a quick and victorious war with Iran will override voters’ concerns about rising gas prices, a major gamble as November’s midterm elections approach. Affordability is consistently at the top of voters’ concerns. While Trump has focused on the issue during his 2024 presidential campaign, he gave his strongest…
