Qorvis Suggests Loosening Sanctions on Iran and Russia Amid Oil Price Surge

In March, as oil prices soared above $100 per barrel due to the war in Iran, Qorvis, a Washington-based lobbying firm, made an unusual suggestion to US officials. They recommended relaxing some sanctions on Iran and Russia to help stabilize the market.

The Treasury Department subsequently issued short-term waivers allowing the sale and offloading of Iranian and Russian oil stranded at sea. Critics denounced this decision for giving secretive shippers a temporary pass to profit, despite some Asian nations applauding the relief.