The United States is ready to consider lifting sanctions on the Russian oil industry, but only if strict conditions are met. Washington's primary requirement is the formal end of Russia's war against Ukraine.
U.S. Treasury Secretary Scott Bessent stated this during an interview on Fox News, as reported by Hvylya.
According to Bessent, this involves more than just a ceasefire; it requires the conclusion of legally binding international peace agreements.
Bessent emphasized that the return of Russian hydrocarbons to the market could significantly impact global prices, but the mechanism would not be triggered instantaneously.
"In the event that peace agreements are reached, there is a massive amount of raw materials currently under U.S. Treasury sanctions that could potentially be brought to the global market," the department head noted.
The Secretary added that a comprehensive settlement is necessary to fundamentally change the balance of supply and demand. In addition to Russia, he mentioned Venezuela and Iran, noting that stabilizing the situation in these countries would also allow additional volumes of resources to enter the market.
However, the official cautioned against inflated expectations, clarifying that the easing of restrictions is possible exclusively after all security conditions are fulfilled.
"There will be no automatic decisions," Bessent summarized.
