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EU Economy Chief Rules Out Sanctions Relief on Russian Oil and Gas, Keeping Crypto Markets on Edge

The combination of the Strait of Hormuz blockade and existing Russian oil sanctions is creating a severe supply crunch. The UK's move may be a precursor to broader European actions, indicating that Western unity on sanctions is fraying under economic pressure. This could reshape global oil trade flows and reduce the geopolitical risk premium in energy markets.

Crude Oil

UK loosens Russian oil sanctions due to rising fuel prices and supply concerns from the effective blockade of the Strait of Hormuz.

UK Loosens Russian Oil Sanctions as Strait of Hormuz Blockade Bites

UK's Russian Oil Sanctions Loosening Could Actually Weaken Bitcoin's Inflation Hedge Narrative – Here's Why

US Treasury Lets Sanctions Waiver on Russian Oil Expire, Tightening Global Supply

Bitcoin

The move comes amid heightened geopolitical tension over Russian energy exports and a fragile global oil supply. If sanctions enforcement loosens, it may reduce immediate energy‑price spikes, tempering inflation fears that have been a key driver of crypto’s “safe‑haven” narrative. At the same time, any escalation (e.g., a U.S. naval response) would reignite risk‑off flows, amplifying crypto’s correlation with broader market fear metrics.

A Russian oil tanker entered Cuban waters carrying 730,000 barrels of crude, and President Donald Trump downplayed its significance.