The U.S. Department of the Treasury sanctions on Russian oil will be lifted if the Ukrainian crisis is resolved peacefully, which will contribute to a reduction in global energy prices, U.S. Treasury Secretary Scott Bessent said.
"And then with the peace deals, I think we could see substantial decreases in the oil price with Venezuela, Iran, and if Russia, Ukraine get settlement, that's a lot more oil that gets unsanctioned by Treasury, that can go into the market," Scott Bessent said.
On February 4-5, in Abu Dhabi, the second round of trilateral negotiations between Russia, the United States, and Ukraine took place.
The first round of trilateral security consultations involving Russia, Ukraine, and the United States was held on January 23-24, also in Abu Dhabi.
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