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The Economic Times

Economy / The Economic Times

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US Treasury secretary hints at lifting more Russian oil sanctions post India move

US Treasury Secretary Scott Bessent said the US is considering lifting sanctions on more Russian oil to ease global supply after energy markets were disrupted by the US-Israel conflict with Iran. Oil prices surged 8.5% on Friday and nearly 30% for the week as fighting in the Gulf region disrupted activity around the Strait of Hormuz.

7 Mar 2026 6:12 am