White House weighs Russian oil exemptions to stabilise markets

Washington is considering a surprising shift in energy policy. President Donald Trump’s administration is discussing a possible easing of sanctions on Russian oil to prevent a sharp rise in energy prices following the escalation of the US-Israeli conflict with Iran.

According to three sources familiar with the planning, an announcement could come as early as the beginning of the week.

Rising tensions in the Middle East have disrupted oil supplies and raised concerns about a global shortage. Washington is therefore weighing several options, from a broader easing of sanctions to specific exemptions for certain countries.

India could be among them, allowing it to continue purchasing Russian oil without the risk of US sanctions. The United States recently allowed India to buy Russian oil located on tankers at sea.

A potential easing of sanctions could help stabilise energy markets, but it would also complicate Western efforts to limit Russia’s oil revenues, which finance its war in Ukraine.

(reuters)