US secretary of state Marco Rubio has insisted that Washington’s recent easing of sanctions on Russian crude is strictly temporary, warning that it does not signal any long-term shift in policy even as global energy markets reel from the Iran conflict.Speaking after G7 talks in Paris, Rubio said the United States expects its ongoing military campaign against Iran to weaken Tehran “within the next couple of weeks”, even as joint US-Israeli strikes hit key nuclear facilities. He also dismissed any suggestion that Moscow’s engagement with Iran had constrained US operations, saying there was “nothing Russia is doing” that impedes Washington’s actions.His remarks come amid heightened volatility in oil markets, with prices surging after Iran disrupted traffic through the Strait of Hormuz — a critical artery for nearly a fifth of global oil and gas shipments. Rubio issued a sharp warning against Tehran’s reported attempt to impose tolls on vessels crossing the strait, calling the move “illegal” and “dangerous to the world”. G7 foreign ministers backed that position, urging the immediate restoration of free navigation.At the same time, the US had rolled out limited sanctions relief on both Russian and Iranian crude in a bid to stabilise supply. Treasury Secretary Scott Bessent confirmed that a 30-day waiver applies only to Iranian oil already in transit, stressing that it does not permit new purchases or production. The measure is expected to release millions of barrels into global markets to ease short-term shortages.
