Oil continues to trade above $100, despite Washingtons attempts to calm the markets

The US Treasury has temporarily lifted its sanctions on Russian oil shipments that had been loaded on tankers before March 12, in another attempt to defuse the global energy crisis triggered by the US-Israeli attack on Iran.

President Vladimir Putin's investment envoy said the move will affect some 100 million barrels of oil. "The US recognizes the obvious: without Russian oil, the global energy market cannot remain stable," Kirill Dmitriev said.

Iran's newly appointed supreme leader, Mojtaba Khamenei, said that the strategically important Strait of Hormuz should remain shut to hostile nations until the US and Israel pay reparations for the damage inflicted on his country.

Despite multiple attacks on oil tankers earlier this week, President Donald Trump has reiterated his claim that vessels must "show some guts" and simply go through. "There's nothing to be afraid of. They have no Navy and we sank all their ships," he said.

Brent futures remain highly volatile and continue to trade above the $100 mark on Friday, despite Washington's attempts to calm the markets.

Here are the latest developments as RT continues to bring you up to date:

• The US Department of War has launched a rescue operation following an unexplained "loss" of a KC-135 refueling aircraft in the "friendly airspace" of Iraq. The crash has become the fourth officially confirmed loss of a US manned aircraft, after three F-15E Strike Eagles were downed in an alleged "friendly fire" incident over Kuwait on March 1.

• Iranian media claimed that the jet was downed by pro-Tehran militias, who also attacked a Kurdish base in Iraq earlier in the day, injuring six French troops. President Emmanuel Macron confirmed that one soldier died.

• In his first public address, Khamenei announced that Tehran will seek restitution from the US and Israel, threatening to forcibly seize or destroy the aggressors' assets in case of refusal.

• The Iranian Foreign Ministry accused the European Union of being complicit in the "US and Israeli aggression, brutalities, and atrocities," after the bloc imposed a fresh batch of sanctions on the Islamic Republic.

• At least two oil tankers were hit near Iraq's Umm Qasr port early on Thursday, while the port of Salalah in Oman continued to burn overnight. Saudi Arabia and Bahrain also reported strikes on their oil facilities. Oman evacuated vessels from Mina Al Fahal as a precaution.

• A Pentagon probeinto the strike on a primary school in Minab that killed 168 children reportedly found that outdated US targeting data on a nearby IRGC facility likely caused the attack.

• Western banks began closing Middle East branches after Iran threatened financial institutions in retaliation for the strike on Tehran's state-owned Bank Sepah, which handles military and IRGC payrolls.

• The FBI has warned the California authorities thatIran planned to launch drone strikesfrom an unidentified vessel off the West Coast, but local officials have downplayed the alert. Governor Gavin Newsom wrote on X: "while we are not aware of any imminent threats at this time, we remain prepared for any emergency."

Follow our live coverage below for continuous updates. You can also read our previous updateshere.

(RT.com)