Bessent: US May Lift More Russian Oil Sanctions
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- Scott Bessent told Fox Business' "Kudlow" program on Friday that the US "may unsanction other Russian oil," expanding the scope of potential sanctions relief
- The comments came a day after the US Treasury issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue flowing to India
- Bessent said there are "hundreds of millions of sanctioned barrels of sanctioned crude on the water" that could be freed up
- By unsanctioning those barrels, Treasury can "create supply," Bessent argued, framing the move as an energy-market intervention
- The remarks were made on March 6 and signal that the administration is weighing further relief beyond the initial India-focused waiver
Why it matters: The 30-day India waiver and Bessent's hints at broader relief point to Treasury using unsanctioning as an active supply tool rather than a Russia-policy gesture. Freeing hundreds of millions of stranded barrels would boost crude availability for refiners and buyers like India, while diluting the bite of existing sanctions on Moscow's energy exports.
