US Lifts Russian Oil Sanctions as Iran War Hits Prices
The Trump administration grants a 30-day waiver for Russian oil stranded at sea to curb soaring fuel costs, as US-Israeli strikes in Tehran disrupt global supplies via the Strait of Hormuz.
The Trump administration grants a 30-day waiver for Russian oil stranded at sea to curb soaring fuel costs, as US-Israeli strikes in Tehran disrupt global supplies via the Strait of Hormuz.
The US has issued a 30-day waiver allowing countries to buy sanctioned Russian oil stranded at sea, aiming to ease energy market disruptions caused by the Iran war, with oil prices already dropping in Asia.
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Intense US and Israeli strikes on Iran, coupled with Iranian attacks on Gulf infrastructure, have driven oil prices above $100 a barrel. The conflict has displaced millions and caused casualties across the region.
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Asian stock markets fell broadly on Friday, mirroring Wall Street's decline, while oil prices remained elevated around $100 a barrel due to persistent supply concerns stemming from the Iran conflict.
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