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On 13 March 2026 Washington temporarily lifted its own Russia-oil sanctions, authorising any importer to buy cargoes loaded before 12 March and still at sea, in order to counter a Middle East supply shock that had pushed Brent above $100.
On 13 March 2026 Washington temporarily suspended its own ban, licensing Russian crude already loaded before 12 March to move on world markets until 11 April in hopes of cooling prices inflated by Hormuz disruptions.
On 15 Mar 2026, President Trump declared that the U.S. had “totally demolished” Iran’s Kharg Island oil hub and might strike it again, simultaneously urging allies to dispatch naval forces to secure the embattled Strait of Hormuz.
On 13 March 2026 Washington issued a one-month sanctions waiver letting any country buy Russian crude and products that were already loaded before 12 March, immediately releasing roughly 20-30 million barrels stuck on tankers after the Strait of Hormuz closure.
Washington reversed course on 8–11 March 2026, issuing a one-off 30-day license so Indian refiners can take delivery of Russian oil already at sea after the Strait of Hormuz conflict choked Gulf supplies.
On 12 March 2026, the U.S. Trade Representative triggered dual Section 301 investigations—one on “structural excess capacity” covering 16 partners and another on forced-labour supply chains affecting about 60 countries—provoking an immediate and coordinated rejection from Beijing ahead of their sixth-round trade talks.
On 11 March 2026 the 32-nation International Energy Agency unanimously approved—and G7 governments endorsed—the largest emergency oil-reserve release ever (400 million barrels) to blunt crude prices that had spiked above $115 after war in Iran choked off roughly 90 % of Hormuz traffic.
On 13 March, the Treasury replaced its India-only exemption with a worldwide 30-day licence allowing any importer to buy Russian crude already loaded before 12 March, reversing months of pressure as the Hormuz closure squeezes supply.
On 12 Mar 2026, twin Iranian drone/boat attacks on the Safesea Vishnu and Zefyros in Iraqi waters brought the tally to six vessels hit in 36 hours, triggering Iraq’s shutdown of its offshore oil terminals and sending Brent crude back above $100 even after massive emergency reserve releases.
On 11 Mar 2026 the 32-nation International Energy Agency unanimously ordered a one-off injection of 400 million barrels from strategic stockpiles—twice the 2022 Ukraine draw—to blunt the sudden supply void created by the Iran-Israel war’s shutdown of the Strait of Hormuz.
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