The temporary measure is expected to cool global energy markets as crude prices continue to soar after US-Israeli attacks on Iran
The US has eased sanctions to allow countries to purchase Russian oil and petroleum products already loaded on vessels at sea, according to Treasury Secretary Scott Bessent. The move comes as escalating Middle East tensions triggered by the US-Israeli war on Iran have sent global oil prices soaring.
The US and Israel launched coordinated strikes on Iran on February 28, prompting Iranian retaliatory attacks across the region. The crisis has led to the de facto closure of the Strait of Hormuz – which carries roughly…
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