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✍️ Written by Saket Suman The effective closure of the Strait of Hormuz has forced the United States into one of the most unusual energy policy positions of the modern sanctions era: simultaneously tightening pressure on Iranian oil while temporarily loosening restrictions on Russian crude in order to prevent a global supply shock. The U.S. Treasury’s General License 134, issued on March 12 — the thirteenth day of the expanding Iran war — allows the delivery and sale of Russian crude and petroleum products that were already loaded on vessels before that date and are now stranded at sea. The authorization runs until April 11 and permits the transactions needed to complete those shipments, including docking, insurance, bunkering, vessel management and related maritime services. Representational Image/File Photo Via: corechaincrypto on X On the surface the measure appears technical, limited and temporary but in reality it reveals something much ...

The United States has issued a temporary sanctions authorization allowing the sale and delivery of Russian crude oil and petroleum products that were already loaded on vessels before March 12, a move Washington says is intended to stabilize global energy markets as the widening West Asia war disrupts supply chains. File Photo: BRICS Info The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced General License 134 , which authorizes transactions necessary for the sale, delivery or offloading of Russian Federation-origin crude oil or petroleum products loaded on vessels on or before 12:01 a.m. Eastern Daylight Time on March 12, 2026 .  The authorization will remain valid until 12:01 a.m. EDT on April 11, 2026, effectively creating a one-month window for cargoes already at sea to reach buyers. The measure applies even to cargoes carried on vessels that may otherwise fall under U.S. sanctions regimes, provided the oil was already loaded before the cutoff time. ...

✍️ Written by Saket Suman The Iran war entered a more economically consequential phase on Wednesday as Tehran’s pressure campaign moved decisively from military bases and energy assets to commercial shipping and civilian transport , and forced governments and markets to confront the reality that the war is no longer just destabilizing the Middle East but also beginning to hit the arteries of global trade directly. In the span of a day, a Thai cargo ship bound for India was struck and set ablaze in the Strait of Hormuz, other merchant vessels were hit or diverted, drones struck near Dubai International Airport, and the International Energy Agency responded by authorizing the largest emergency oil release in its history . This is now a full-spectrum of contest over logistics, mobility and economic pain. Image Via: kadmitriev The clearest sign of that shift came at sea. Thai officials said a search was under way for three missing crew members af...

✍️ Written by Saket Suman The war between the United States, Israel and Iran has moved into a more dangerous and more systemically disruptive phase, with Washington promising its “ most intense ” day of strikes yet inside Iran, Gulf states reporting fresh drone attacks, and the Strait of Hormuz still effectively frozen despite U.S. threats of military escorts. What is now emerging is a conflict that is steadily fusing air war, energy coercion, maritime disruption, evacuation logistics, diplomatic realignment and information manipulation into one expanding regional crisis.  Image Source: US Central Command The clearest signal of escalation came from the Pentagon. U.S. Defense Secretary Pete Hegseth said Tuesday that “ today will be yet again our most intense day of strikes inside Iran ,” while the chairman of the Joint Chiefs said Iranian missile attacks had fallen by about 90%, presenting the new bombardment as part of a campaign to break Tehr...

Russia may stop supplying oil and gas to Europe ahead of planned EU restrictions , President Vladimir Putin said on Monday, and warned that the escalating war in the Middle East is already disrupting global energy logistics and driving oil prices sharply higher. Speaking at a meeting with senior Russian energy officials and industry executives, Putin said the government had been instructed to evaluate the possibility of halting energy exports to the European market rather than waiting for new European Union restrictions to take effect. File Photo of Russian Prez Vladimir Putin; Via: MFA Russia   “The government has already been tasked with assessing the possibility and advisability of stopping supplies of our energy resources to the European market,” Putin said, and referred to EU plans to impose additional limits on Russian hydrocarbons starting April 25 , with proposals that could culminate in a complete ban by 2027 . Putin suggested Russia could redirect those volumes towa...

Russian President Vladimir Putin held a telephone conversation with Iranian President Masoud Pezeshkian on March 6 as the war between Iran, the United States and Israel has entered a dangerous new phase following the assassination of Iran’s Supreme Leader Ayatollah Ali Khamenei.  Image Source: MFA Russia According to a statement released by the Kremlin , Putin expressed condolences over Khamenei’s killing and the deaths of members of Iran’s political and military leadership as well as civilians during what Moscow described as Israeli-American military aggression against Iran. During the call, Putin stated Russia’s position that hostilities must end immediately and that disputes surrounding Iran and the wider Middle East should be resolved through political and diplomatic means rather than military force.  The Russian leader said he has been in continuous contact with leaders of Gulf Cooperation Council states amid the escalating crisis, signalling Moscow’s attempt to position...

The United States has issued a temporary 30-day waiver allowing Indian refiners to receive Russian crude already stranded at sea. This move, Washington says, is meant to stabilize global energy supplies disrupted by the widening Iran war but it has also been drawing political criticism inside India over the language and implications of the decision. U.S. Treasury Secretary Scott Bessent said the waiver was designed to ensure that oil continues flowing into global markets at a time when maritime disruptions around the Strait of Hormuz and wider regional instability have tightened energy supply chains.  Petroleum Minister Puri appears prominently in Epstein Emails. File Photo: MEA He said the measure authorizes transactions involving Russian crude already loaded on vessels and headed toward India, while stressing it was deliberately short-term and would not provide significant financial benefit to the Russian government. Washington also indicated it expects India to increase purchas...

Russian President Vladimir Putin warned Wednesday that the widening war involving the United States, Israel and Iran could push Europe into a deeper energy crisis, suggesting Moscow might even halt gas supplies to the continent as global prices surge. Speaking at the Kremlin on March 4 after meeting Hungarian Foreign Minister Peter Szijjarto, Putin told Russian journalist Pavel Zarubin that the widening Middle East conflict had intensified volatility in oil and gas markets and was forcing energy buyers to compete for supplies. “Both oil and gas prices have really risen,” Putin said, adding that the surge was partly linked to sanctions on Russian energy but also to “everything happening in the Middle East with the aggression against Iran.”  Image Via: Official Channel He said the situation had been compounded by risks around the Strait of Hormuz, one of the world’s most critical oil shipping routes. According to Putin, buyers willing to pay higher prices amid the war could divert g...

Iran held annual military drills with Russia this week in the Gulf of Oman and the Indian Ocean as a second U.S. aircraft carrier moved closer to the Middle East, with both Washington and Tehran signaling readiness for conflict if long-stalled talks over Iran’s nuclear program collapse. U.S. President Donald Trump said on Thursday that he believes “10 to 15 days” is “enough time” for Iran to reach a deal, while warning that failure to secure what he called a “meaningful deal” would bring consequences. “It’s proven to be, over the years, not easy to make a meaningful deal with Iran, and we have to make a meaningful deal. Otherwise, bad things happen,” Trump said. U.S. Navy Carrier Air Wing 8 aircraft fly in formation; Via: US Navy The drills came amid mounting U.S. military deployments and heightened rhetoric across the region. The USS Gerald R. Ford aircraft carrier was near the mouth of the Mediterranean Sea, bolstering Trump’s ability to conduct a strike should he decide to do so, th...

U.S. President Donald Trump announced on Monday that the United States and India had finalised a trade deal that lowers U.S. reciprocal tariffs on Indian goods to 18%, linking the agreement to India’s future energy purchases and its role in global efforts to end the war in Ukraine, following a telephone conversation with Indian Prime Minister Narendra Modi . POTUS Trump with PM Modi, file photo; Via US Ambassador to India Announcing the agreement on his social media platform Truth Social, Trump said it was “an Honor to speak with Prime Minister Modi, of India, this morning,” describing Modi as “one of my greatest friends and, a Powerful and Respected Leader of his Country.”  Trump said the two leaders discussed trade and “ending the War with Russia and Ukraine,” adding that Modi had “agreed to stop buying Russian Oil , and to buy much more from the United States and, potentially, Venezuela.” Trump said this shift “will help END THE WAR in Ukraine, which is taking place right now, ...