WS #13624
US Senate passed sweeping Russia/Iran sanctions (86-11) authorizing up to 100% tariffs on major buyers of Russian energy (China, India), potentially supporting oil prices and affecting energy importers. Oil prices rebounded ~1% on Middle East uncertainty, while Iran and Oman reached broad consensus on a Hormuz framework, and Bessent reiterated the strait's declining relevance, keeping oil and gold premiums elevated.
Russia/Iran Sanctions Bill
US Senate passed sweeping Russia/Iran sanctions (86-11) authorizing up to 100% tariffs on major buyers of Russian energy (China, India), potentially supporting oil prices and affecting energy importers.
Oil prices rebounded ~1% on Middle East uncertainty, while Iran and Oman reached broad consensus on a Hormuz framework, and Bessent reiterated the strait's declining relevance, keeping oil and gold premiums elevated.