Merz Criticizes US for Lifting Russia Oil Sanctions

0:00On March 13, German Chancellor Friedrich Merz strongly criticized the United States for temporarily lifting sanctions on Russian oil sales amid, soaring energy prices. The move allows countries to buy Russian oil already in transit for 30 days to ease global supply strains from the Middle East conflict. This decision came after the U.S.-Israel war against Iran disrupted the strait of Hormuz, causing the biggest oil supply shock in history. U.S. Treasury Secretary Scott Besen called it a narrow measure that won't greatly benefit Russia financially. European leaders pushed back hard. Merz said easing sanctions is wrong since Russia shows no interest in Ukraine talks and support for Kiev must continue despite Middle East. Distractions French President Emmanuel Macron agreed, stating the Hormuz blockade doesn't justify helping Moscow. Russia shatterfully quickly rerouted tankers toward India, which can outbid other buyers like China. Analysts say this gives the Kremlin a financial boost, even as Brent Crude stays above $100

1:04a barrel. The International Energy Agency released 400 million barrels from reserves, its largest ever, but ongoing Iranian strikes and mines in the Bose. They keep markets tense as U.S. midterm elections near.