Easing Russia oil sanctions won’t stabilize markets, but will help Moscow fight longer, source says
Photo: The consequences of the easing of US oil sanctions against Russia have become clear (Getty Images)
The lifting of US sanctions against Russia will not help stabilize global markets, but it will help the Kremlin fight longer, a source in diplomatic circles told RBC-Ukraine.
Read also: US greenlights Russian oil exports again until April
“This decision (lifting sanctions on oil from Russia – ed.) will definitely not help stabilize the market, but it will help Russia fight longer,” the RBC-Ukraine source in diplomatic circles said.
According to him, Russia is helping the Iranian regime destabilize the Middle East.
Lifting of sanctions on Russian oil
This morning, March 13, the US Department of the Treasury temporarily eased oil sanctions against Russia, allowing the export of already loaded oil and petroleum products.
According to the department, the permission applies exclusively to oil loaded onto ships by March 12, and sales are allowed until April 11.
The easing of sanctions is calculated for one month, likely with the aim of stabilizing the global oil situation in the short term.
The new US license does not apply to transactions related to Iran.
Background
Russia’s oil export revenues in February reached the lowest level since the beginning of the full-scale invasion of Ukraine.
The global oil market faced an unprecedented crisis amid the large-scale conflict in the Middle East. Supply disruptions, halted tankers, and attacks on oil infrastructure led to a reduction in production by millions of barrels.
