BESSENT: “The world is very well supplied in oil,” said Bessent. “Yesterday, Treasury agreed to let our allies in India start buying Russian oil that was already on the water,” emphasizing that “the Indians have been very good actors” who stopped buying Russian oil upon U.S. request this past fall.
To ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil. There are hundreds of millions of sanctioned barrels of crude on the water, and in essence, by unsanctioning them, Treasury can create supply. We are looking at that.”
Source: Grabien Stories
