US suspends sanctions on Russian oil sales amid Iran war

[littlemissmartypants]

Source: The Guardian

The US temporarily suspended sanctions on the sale of Russian oil on Thursday, issuing a Treasury Department license to allow the sale of Russian crude oil and petroleum products loaded on vessels until 11 April, according to a letter posted online by the Treasury’s Office of Foreign Assets Control, which oversees sanctions.

The sale of Russian oil has been sanctioned by the US in retaliation for Russia’s invasion of Ukraine.

The treasury secretary, Scott Bessent, cast the windfall for Russia as one of a series of steps taken by Donald Trump “to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime”.

The new license, which covers oil and petroleum products loaded on vessels as of 12 March, comes a day after the US announced it would release 172m barrels of oil from its strategic petroleum reserve in an effort to keep oil prices from further spiking after Iran closed the strait of Hormuz, through which 20% of the globe’s oil supply normally passes.

Read more: www.theguardian.com/world/live/2026/mar/12/iran-war-live-updates-oil-trump-middle-east-crisis-israel-lebanon-iraq-latest-news

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20.36 EDT
Robert Mackey

[IronLionZion]

1. Things are working out great for Russia

nice high oil prices, suspended sanctions, US military/intel support diverted away from Ukraine, and more. It would not shock me if the US enters into some defense treaty with Russia and leaves NATO.

[Bayard]

7. My dogs are so much smarter than trump

He is so blinded by ego, he never sees he's being played. I'm sure this was all discussed in that hour long conversation he had with Putin the first of this week. He is so thrilled to think he's playing in the same sandbox with Vlad.

[sleroy49]

11. Trump is the best President ...

Russia ever had.

[JMCKUSICK]

2. Not a hint of any conscience, and I'll eat sardines the day the sanctions go back into effect. (Not a fan of Sardines)

[GreatGazoo]

3. We saw this one coming

Next he will push Venezuelan oil

[cliffside]

13. Burgum is doing that, yesterday at BlackRock's infrastructure summit ...

https://www.c-span.org/clip/public-affairs-event/interior-secretary-burgum-touts-new-strategic-ally-in-venezuela/5196090

Video clip, 3:30 minutes

"MARCH 11, 2026

Interior Secretary Burgum Touts New "Strategic Ally" in Venezuela

Interior Secretary Doug Burgum tells investors at BlackRock's Infrastructure Summit the Trump administration turned sanctioned adversary Venezuela into a strategic ally "literally in two hours" with the capture of President Nicolas Maduro. Burgum, who just returned from a visit to Venezuela, also touts the willingness of Venezuelan leaders to work with American petroleum firms to rewrite mining and drilling laws. "This is a country that wants to become competitive for capital from all of you," he says."

[AllyCat]

4. This is really a win for Putin, isn't it?

And now he can attack Ukraine with renewed vigor after this cash infusion.

[LudwigPastorius]

5. Yes, let's give Putin more money so he can maintain his intelligence network that is targeting...

U.S. troops in the Middle East.

Impeach Trump again. The third time's supposed to be the charm!

[SergeStorms]

6. Kissing Pootie's...

patoot again. Such a good little lap dog, Donnie.

You'll get that Trump hotel in Red Square yet.

[FakeNoose]

8. Surprise, surprise, surprise!

NOT!!!

[mahina]

16. Perfect

[applegrove]

9. Putin befriended Syria to keep the refugees flowing to Europe,

and create an immigration crisis there which he hoped would grow the right wing. No doubt he has some function for how he will get a win out of protecting Iran with intelligence and it looks like he got it. Not only are the sanctions off Russian oil for now but the price of oil is way up.

[littlemissmartypants]

10. KGB all the way! Boo Ya!

Rage Cross-stitch design. Just in time for Mother's Day or Easter.

— (@2diamondeyes.bsky.social) 2026-03-12T15:19:55.465Z

[mahina]

15. True, true and funny- yet I would rather it fall on us then fall in the future generations no kidding

[BarbD]

12. Remind me which side Trump is on.

Russia? USA?

[mahina]

14. Of course.

[cstanleytech]

17. As planned by Trump and Putin so that Putin can get more money to spend on his illegal Ukrainian invasion.