Trump Eases Russian Oil Sanctions as Iran War Sends Prices Spiking

The move was met with dismay in Europe, where officials feared it would aid the Russian war machine in Ukraine.

Mar. 13, 2026 at 11:19am

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The United States has temporarily lifted sanctions on Russian oil, a boost to the Kremlin as Washington tries to contain energy prices sent soaring by the American-Israeli assault on Iran. The decision caused dismay in Europe, where officials feared it would give a timely boost to the Moscow war machine on their doorstep as attention shifts from Ukraine to the Middle East.

Why it matters

The lifting of Russian oil sanctions comes as the global energy market faces significant disruption due to the conflict in the Middle East, with the blockade of the vital Strait of Hormuz oil chokepoint by Iran. This move by the Trump administration is an attempt to stabilize energy prices, but it raises concerns in Europe about strengthening Russia's position amid the ongoing war in Ukraine.

The details

The announcement allows countries to buy Russian oil that is already at sea until April 11. Treasury Secretary Scott Bessent claimed this would not provide significant financial benefit to the Russian government, but the Kremlin welcomed the move and pushed for further easing of restrictions. The decision failed to immediately calm oil prices, which have spiraled since Tehran effectively closed the Strait of Hormuz and began attacking energy facilities across the Gulf.

  • On March 13, 2026, the U.S. announced the temporary lifting of sanctions on Russian oil.
  • The easing of sanctions is set to expire on April 11, 2026.

The players

Donald Trump

The President of the United States who authorized the temporary lifting of sanctions on Russian oil.

Scott Bessent

The U.S. Treasury Secretary who announced the decision to temporarily lift sanctions on Russian oil.

Vladimir Putin

The President of Russia, whose government welcomed the move to ease penalties on Russian oil and pushed for further easing of restrictions.

Kirill Dmitriev

Putin's special envoy who said the U.S. is 'effectively acknowledging the obvious: Without Russian oil, the global energy market cannot remain stable.'

Yvette Cooper

The United Kingdom's Foreign Secretary who accused Tehran and Moscow of supporting each other and 'attempting to hijack the global economy.'

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What’s next

The Biden administration will need to decide whether to extend the temporary lifting of sanctions on Russian oil beyond the April 11 expiration date, as the global energy market continues to face disruption from the conflict in the Middle East.

The takeaway

The Trump administration's decision to temporarily ease sanctions on Russian oil highlights the complex geopolitical calculations involved in managing energy supply and prices, as the U.S. must balance its response to the war in Ukraine with the need to contain the fallout from the conflict in the Middle East.