Treasury Secretary Says We 'May Unsanction Russian Oil'
More good news for Putin from this administration. What a shock. Just as we find out that Russia is helping Iran target our troops, Treasury Secretary Scott Bessent tells Fox Business Network's Larry Kudlow that they may lift sanctions on Russian oil.
Here's the exchange from Kudlow's show this Friday where the two of them were also desperate to downplay what this is going to do to oil prices around the world and gas prices here in the United States for God only knows how long.
KUDLOW: I'm sitting up here last night with Ed Yardeni. You know him. Smart economist, one of the best in the business. And he's saying to me, talking about this reinsurance plan and the naval accompaniment, the sooner you get a bunch of ships going through the Strait of Hormuz to their destinations, bunch of oil tankers, the sooner oil prices are going to peak and start coming down.
That's what his point was. I'm going to echo that point. I think the world just wants to see it. Let's get the Navy. The Navy can be helpful. It's not a hard thing to do. And the world is awash in oil. That's not the problem. It's just this.
BESSENT: Larry, the world is very well supplied in oil. Yesterday, Treasury agreed to let our allies in India start buying Russian oil that was already on the water.