US temporarily lifts sanctions on Russian oil at sea as Iran war sees global prices surge

Trump administration announces 30-day waiver on Russian oil stranded at sea as concerns over US-Israel war on Iran unsettles marketsMiddle East crisis – live updatesThe United States has temporarily waived sanctions on Russian oil stranded at sea as Trump administration officials attempt to reverse a surge in prices that is causing mounting apprehension about global supplies.Scott Bessent, the US Treasury secretary, announced a “temporary authorization” late on Thursday, allowing countries to buy the stranded Russian oil for 30 days. Trump is “working to keep prices low”, he said, after average US fuel prices rose by 65 cents per gallon in a month. Continue reading...


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