Trump Lifts Russian Oil Sanctions to Curb Prices, Sparks Backlash

The Trump administration temporarily lifted subnational Russian oil sanctions following a one-month waiver for India.

Treasury Secretary Bessent told Fox News, "We may unsanction other Russian oil."

Associated Press

Congressional Democrats demanded immediate reversal, warning the waiver rewards Russia as it helps target U.S. troops.

The Pacific Council noted Trump's contradictory approach of easing Russian sanctions while targeting Iran.

Global crude prices began climbing toward $120 per barrel just days after Trump-Israeli forces destroyed Iran's energy infrastructure.

The Centre for Research on Energy and Clean Air found Russia earned approximately EUR 6bn in March.

Atlanta Journal-Constitution

The Control Risks Institute analyzed that the Russian energy sector has proven remarkably resilient.

Oil markets priced Russian supply well above the $60 cap.

G7 nations imposed a $100 cap on refined products as Washington lifted the waiver.

The sanctions and waiver strategy exposed contradictions in Trump's energy diplomacy.

“Authors: Vaibhav Raghunandan and Luke Wickenden; Data scientist: Panda Rushwood CORRIGENDUM, 16 March 2026 –The initial March 2026 monthly analysis stated that, ‘Twenty-three vessels delivered EUR 800bnof Russian crude oil and oil products while flying a false flag‘, and it should read, ‘Twenty-three vessels delivered EUR 800mnof Russian crude oil and oil products while flying a false flag”

Centre for Research on Energy and Clean Air

India agreed to stop buying Russian oil as part of a trade deal less than a month before the pivot.

Russia had earned billions since the war began despite sanctions.

Experts stressed easing sanctions would either boost Putin's war chest or have limited effect on prices.

The Control Risks Institute warned the sanctions created greater volatility but lacked enduring impact.