From the New York Times, it's the headlines. I'm Tracy Mumford. Today's Friday, March 13th. Here's what we're covering.

A quick update to start on oil. As the Trump administration scrambles to contain energy prices that have shot up because of the war with Iran,

the U.S. has temporarily lifted sanctions on oil from Russia.

Is it a matter of regret to you that Russia is benefiting from this conflict?

Well, again, I think it's an inevitability.

Treasury Secretary Scott Besson, whose department issued the exemptions, has stressed that they're limited and temporary.

But he acknowledged in a podcast interview that relaxing sanctions will benefit Russia to some degree.

It is unfortunate, and we hope that it will be in a micro period that they will benefit.

Russia has faced punishing sanctions from the U.S. and many Western countries

since its full-scale invasion of Ukraine in 2022.

One expert who previously worked with the State Department on sanctions policy

told the times that now,

quote, in one fell swoop, we've undone a huge amount of pressure on Russia.

At the same time, the pressures that are driving up the cost of oil and gas show no signs of

letting up. Yesterday, Iran's newly appointed Supreme Leader directed his country's military to continue

blocking the Strait of Hormuz. An officials say Iran has started laying mines there. The

narrow waterway basically separates the world's biggest oil and natural gas producers from the people

who want to buy it. The shock of the cutoff is rattling businesses and households all over the globe.

In Hanoi, Vietnam, gas station owners have posted sold-out signs, leaving drivers in a lurch.

In Western India, some people mourning the death of a loved one have found that crematories

have closed, with no gas to operate.

From Mexico to Canada to Europe, farmers are facing a surge in fertilizer costs, a lot of which

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