The world desperately needs oil, but can’t get it as 20% of it is literally stuck behind the blockaded Straits of Hormuz. Putin has tons of oil because sales are metaphorically stuck by US sanctions. If the world does not get access to oil soon enough, there will be a global recession or worse, and every day the price of oil rises by 5%. What to do?  Lightbulb moment: why, remove Russia’s sanctions to one of the countries most in need – India – and bring the excess oil to those who have the most urgent need for it, allowing the price to fall and removing much of the leverage Iran has by keeping prices sky high.  That’s what happened late on Thursday, when the US issued a general license to allow for some Russian oil sales to India, giving the nation more options to purchase fuel as an escalating conflict in the Persian Gulf cuts off a major producing region. The license lasts a month (which hints at how long the operation against Iran will likely last according to the Admin) and covers transactions related to the sale of Russian crude oil and petroleum products loaded onto vessels before March […]