Kremlin says Russia and US share interest in stabilising energy markets

• The waiver represents the second major rollback of Ukraine war-related U.S. sanctions in just over one week
• The move follows U.S. and Israeli strikes on Iran that paralyzed shipping through the Strait of Hormuz, roiling global energy markets
• Peskov stated that market stabilization is impossible without significant volumes of Russian oil, warning of risks that the global energy crisis could escalate

Summary

Key Development:

The United States issued a 30-day sanctions waiver allowing countries to purchase sanctioned Russian oil and petroleum products currently at sea. Treasury Secretary Scott Bessent announced the measure as part of efforts to stabilize global energy markets disrupted by conflict with Iran.

Main Parties:

• Russia (Kremlin spokesman Dmitry Peskov)
• United States (Trump administration)
• Treasury Secretary Scott Bessent

Market Context:

The waiver follows U.S. and Israeli strikes on Iran that paralyzed shipping through the Strait of Hormuz, creating significant energy market volatility. This marks the second major rollback of Ukraine war-related U.S. sanctions against Russia in just over one week.

Key Statements:

Peskov acknowledged the waiver as Washington's attempt to stabilize global energy markets, stating "our interests coincide" on this matter. He emphasized that "without significant volumes of Russian oil, market stabilization is impossible," while warning of potential escalation in the global energy crisis.

Market Implications:

The temporary waiver signals acute concern about energy supply disruptions and price volatility following the Iran conflict. Russia's large oil production capacity is viewed as essential to preventing further market instability. The move represents a pragmatic shift in U.S. policy, prioritizing energy market stability over maintaining strict sanctions enforcement.

Additional Context:

Eurozone industrial production unexpectedly fell in January, with rising energy costs expected to further weigh on demand, underscoring broader energy market pressures affecting global economic recovery.

Timeline:

• Waiver issued: March 13, 2026
• Duration: 30 days