MOSCOW, March 13, 2026 (BSS/AFP) - Moscow on Friday urged the United States to lift more sanctions on its oil exports to stabilise the global energy markets, upended by the war in the Middle East. US-Israel strikes on Iran and Tehran's retaliatory attacks across the Gulf region have virtually halted transit through the strategically vital Strait of Hormuz, sending global oil prices spiralling. The United States has temporarily allowed the sale of oil from Russia -- one of the world's largest oil producers and exporters -- that is at sea, as oil prices hold above $100 a barrel. But he added: "without significant volumes of Russian oil, market stabilisation is impossible." The move came after Washington last week temporarily allowed Russian oil that was stranded at sea to be sold to India.

Source: Bangladesh Sangbad Sangstha March 13, 2026 13:19 UTC