The U.S. began Operation Epic Fury on Feb. 28, killing Iranian Supreme Leader Khamanei and striking key military locations in the Islamic Republic. Iran’s retaliatory strikes caused tanker traffic through the Strait of Hormuz to plummet, dramatically increasing prices and prompting the Trump administration to temporarily lift Russian oil sanctions. The U.S. Department of the Treasury gave a temporary 30-day waiver on Russian oil sanctions March 5 to allow for Indian refineries to purchase Russian crude oil already in transit on the sea. The U.S. Treasury announced on March 12 the temporary tariff suspension would apply to all countries until April 5.
Source: Russian Oil Poised To Flood World Markets As Trump Admin Lifts Sanctions | CDN
Show me Your ways, O LORD; Teach me Your paths.
Psalm 25:4
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