Video | Oil Hits $100: US Temporarily Lifts Russian Sanctions Amid Iran Crisis
Oil prices spiked above $100 a barrel amid the ongoing Iran conflict and supply disruptions in the Strait of Hormuz. On Friday, US Treasury Secretary Scott Bessent announced a temporary lifting of sanctions on Russian oil, allowing stranded shipments at sea to be purchased. A similar 30-day waiver was previously granted to India. The International…