From one call to big results

US-Iran conflict makes a huge impact on global energy market. On March 9th the Brent oil price hit its peak of $119.5 for the first time since summer 2022. Bloomberg reports that major oil producers Saudi Arabia, UAE, Kuwait and Iraq reduce their oil production amid Strait of Hormuz blockage.

The same day Trump calls President Putin. Iranian conflict was the main agenda, the talks were 'sincere and constructive, as it usually is between Russian and US' leaders' — top Putin's aide Ushakov describes. However Kremlin states that the presidents did not discuss lifting sanctions.

Shortly after, President Trump announces taking 'those sanctions off ’til this straightens out', regarding Russia. But these are just words for now.

March 12 — Putin's envoy Kirill Dmitriev, the key Russian negotiator with the US visits Miami to hold complex talks on 'destructive nature of sanctions against Russia'. After the complex talks Dmitriev states that US 'begins to better understand key role of Russian oil'

Today US Treasury department lifts sanctions on Russian oil that was loaded on vessels before March 12. Treasury Secretary Bessent presents it as 'US acting to stabilize global energy markets'.