MOSCOW, Russia — Russia warned Friday that the global energy market “cannot remain stable” without its oil, increasing pressure on Washington to lift more sanctions as the Middle East conflict disrupts supplies.
The U.S. has eased some restrictions on Russian oil, allowing the sale of shipments already at sea, but Western allies have pushed back, insisting sanctions remain in place as the war in Ukraine continues. Oil prices surged to nearly $120 a barrel this week, the highest since the pandemic.
Russia’s economic envoy, Kirill Dmitriev, said the U.S. move confirms that “without Russian oil, the global energy market cannot remain stable,” adding that further easing of restrictions appears “increasingly inevitable.”
French President Emmanuel Macron, speaking on behalf of the G7, rejected that argument, emphasizing that the Strait of Hormuz’s temporary closure “in no way” justifies lifting sanctions on Russia.
On Thursday, the U.S. Treasury authorized the sale of Russian crude loaded on vessels by March 12 through April 11, following a similar short-term measure for shipments to India. Treasury Secretary Scott Bessent said the measures are “narrowly tailored” and will not provide “significant financial benefit” to the Russian government.
