Breaking news

Brent Hits Four-Month High Amid Tightening US Sanctions On Russian Oil

Oil prices climbed for the third consecutive session in Asian trading on Thursday, with Brent crude reaching its highest level since late August. The rise follows the announcement of expanded US sanctions targeting Russian oil exports to key markets such as China and India, according to Reuters.

Key Figures

  • Brent crude gained $1.48, or 1.86%, reaching $81.24 per barrel — its highest since August 27.
  • West Texas Intermediate (WTI) rose $1.53, or 2%, to $78.10 per barrel.

Market Dynamics

Since January 8, both benchmarks have surged more than 6%, with prices accelerating after the US Treasury Department announced new sanctions on Friday.

The measures target vessels transporting approximately 1.5 million barrels of Russian oil daily, including shipments of 750,000 barrels to China and 350,000 to India.

Implications

Analysts predict these sanctions will compel China and India to source additional oil from Middle Eastern and American suppliers. The shift in trade flows is expected to tighten global supply and exert upward pressure on prices.

The developments highlight the geopolitical and economic ripple effects of energy sanctions as global markets react to evolving trade dynamics.

TikTok Returns To US App Stores 

TikTok is once again available for download in the Apple and Google app stores in the US, following a delay in the enforcement of its ban by former President Donald Trump. The ban’s postponement until April 5 gives the administration additional time to evaluate the situation.

Key Developments

The decision to restore TikTok access came after Google and Apple received reassurances from the Trump administration that they would not face legal consequences for reinstating the Chinese-owned app. According to Bloomberg, US Attorney General Pam Bondi sent a letter outlining these guarantees.

In an executive order signed on January 20, Trump instructed the attorney general not to take enforcement action for 75 days, providing time for his administration to determine how to proceed.

Uncertain Future For TikTok In The US

While TikTok is back on the US app stores, its long-term survival remains uncertain. If no deal is reached by early April to address national security concerns, the app may face another shutdown. ByteDance, the parent company, has insisted that TikTok is not for sale.

Legislation And Pressure On ByteDance

The Protecting Americans from Foreign Enemy-Controlled Apps Act, which passed with bipartisan support in Congress, mandates a nationwide ban on TikTok unless ByteDance sells its US operations. This law was signed by President Joe Biden in April of last year.

In late January, the app was briefly removed from US stores following the ban’s activation, impacting over 170 million American users. However, TikTok was restored soon after, following Trump’s intervention in his first hours as president. During that time, he signed an executive order allowing 75 days for a deal that would safeguard national security. Trump also suggested that the US could take a 50% stake in TikTok, a move he believed would keep the app “in good hands.”

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