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US Could Lift Sanctions on More Russian Oil, Says Bessent

Business & Policy
March 7, 2026

(Reuters) – Treasury Secretary Scott Bessent on Friday ‌said the United States could remove sanctions from more Russian oil, a day after Washington issued a ⁠30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India.

“We may unsanction other Russian oil,” Bessent told Fox Business’ “Kudlow” program.

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“There ‌are ⁠hundreds of millions of sanctioned barrels of sanctioned crude on the water and in essence, ⁠by unsanctioning them, Treasury can create supply, and we are ⁠looking at that,” he added.

Reporting by Ismail Shakil ⁠in Ottawa and Ryan Patrick Jones in Toronto Editing by David Ljunggren and Michelle Nichols