US eases Russia oil sanctions: comment
Colin Walker is available for further comment or interview
By Colin Walker
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Commenting on the news that the US has eased sanctions on countries buying seaborne Russian oil and petroleum [1], Colin Walker, Head of Transport at the Energy and Climate Intelligence Unit (ECIU), said:
"The markets don't appear to be reacting as yet. Even the release of 400 million barrels of reserves announced recently [2] didn't really put a dent in the oil price which is still up around $100 a barrel. Clearly Putin will benefit, but it's less clear that this is going to put any real downward pressure on UK pump prices. This is the second time in a matter of years we've seen this kind of spike. More British drivers may now be leaning towards EVs as while charging prices could go up a bit, they will generally be much cheaper to charge."
Notes to editors:
1. The Guardian: https://www.theguardian.com/world/2026/mar/13/iran-war-oil-prices-russian-sanctions-lifted
2. IEA: https://www.iea.org/news/iea-member-countries-to-carry-out-largest-ever-oil-stock-release-amid-market-disruptions-from-middle-east-conflict
For more information or for interview requests:
George Smeeton, Head of Communications, ECIU, t: 020 8156 5305, m: 07894 571 153, email: george.smeeton@eciu.net