The US admits lifting oil sanctions against Russia

US prepares for possible lifting of oil sanctions against Russia

US Secretary of the Treasury Scott Bessent said that potential peace agreements could unlock access to energy resources that are currently under sanctions.

According to him, after the end of the war in Ukraine, as well as the stabilisation of the situation in Iran and Venezuela, the world market may receive significant additional volumes of oil. This is likely to lead to a decline in global energy prices.

Possible implications for the market

It is expected that if sanctions are eased, a large amount of oil restricted by the US Treasury Department's decisions will be able to return to the international market.

Analysts believe that such a scenario is possible:

• increase competition among oil exporters;

• reduce global energy prices;

• change the balance of influence in the energy market.

At the same time, the implementation of this scenario directly depends on political decisions and the security situation.

Context.

Oil sanctions against Russia remain one of the key instruments of Western economic pressure in response to the war against Ukraine. At the same time, restrictions are being imposed on Iran and Venezuela, which has a significant impact on global energy supply.

Any easing of the sanctions policy could have large-scale consequences for both the global economy and the geopolitical situation.