If The Strait Of Hormuz Is Opened, The U.S. Could Cost Russia Billions Of Dollars

An interesting statement by Marco Rubio.

The United States may stop renewing the license to sell sanctioned Russian oil, as energy supplies from the Persian Gulf to the global market have resumed. This statement was made by U.S. Secretary of State Marco Rubio.

Rubio emphasized that the final decision on whether or not to renew the license to sell sanctioned Russian oil will be made by U.S. President Donald Trump. The White House is currently discussing this possibility. Trump authorized the sale of sanctioned Russian oil in March 2026 as one of the measures to stabilize the global energy market.

On February 28, the U.S. and Israel launched a war against Iran, resulting in the Iranian military blocking the Strait of Hormuz and the global market losing 20% of its oil supply (from the Persian Gulf countries).

In June, the U.S. and Iran signed a memorandum of understanding and now have 60 days to negotiate a final peace agreement. After signing the memorandum of understanding, Iran reopened the Strait of Hormuz, and the U.S. lifted its blockade of Iranian ports.

As a result, free navigation through the Strait of Hormuz resumed, and additional oil flooded the market.

Following the reopening of the Strait of Hormuz, oil prices are falling rapidly and supplies are rising, so there is no reason for the U.S. to extend licenses for the sale of Russian oil. Brent crude is already trading at $76.3 per barrel, while West Texas Intermediate crude is at $72.67 per barrel.

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