The United States has temporarily eased sanctions on the purchase of Russian oil and petroleum products to mitigate the global economic impact caused by the ongoing war in Iran, according to US Treasury Secretary Scott Bessent. He stated that the 30-day relaxation would not provide significant financial benefits to the Russian government.

In contrast, UK Energy Minister Michael Shanks told the BBC that the United Kingdom would 'in no way' relax its restrictions on Russian oil, warning that such a move could allow Vladimir Putin to further invest in the war in Ukraine. The Kremlin, however, described the US decision as an attempt to stabilize the energy market, suggesting that the move serves the interests of both countries.

The announcement came as oil prices surged above 100 dollars per barrel on Thursday amid threats to halt shipping through the Strait of Hormuz, one of the world’s busiest oil transport routes.