US Edition
Trump administration reverses course, extends Russian oil sanctions waiver
The monthlong license covers oil already loaded at sea and excludes transactions involving Iran, Cuba and North Korea, Treasury officials said.
- On Friday, the Treasury Department issued a waiver allowing countries to purchase Russian oil loaded on vessels through May 16, aiming to control global energy prices during the US-Israeli war on Iran.
- The extension comes two days after Treasury Secretary Scott Bessent stated Washington would not renew the waiver for Russian oil, which had expired on April 11.
- This measure excludes transactions involving Iran, Cuba, and North Korea, while a prior Russian waiver freed 100 million barrels and The Iranian waiver allowed 140 million barrels to reach markets.
- Global petroleum prices continue spiking despite the reprieve, driven by the partial closure of the Strait of Hormuz, through which about 20% of the world's oil and gas shipped daily before the war.
- Brett Erickson of Obsidian Risk Advisors said this is not the last waiver Washington will issue, though European Commission President Ursula stated it is not the time to relax sanctions against Russia.
118 Articles
118 Articles
Straight Arrow News
ussanews.comTrump admin reverses decision, extends waiver on Russian oil sanctions
The Trump administration extended a waiver letting countries buy sanctioned Russian oil, days after Treasury Secretary Scott Bessent said it would not be doing so. On Friday, the Treasury Department posted on its website a license authorizing the delivery and sale of crude oil and petroleum products from Russia through May 16. This waiver replaces one that expired on April 11, and does not include Iran, Cuba or North Korea. "As negotiations [wit…
U.S. extends waiver on Russian oil sanctions to ease Iran war shortages, just days after Treasury Secretary Scott Bessent ruled it out
The so-called general license means U.S. sanctions will not apply for 30 days on deliveries of Russian oil that has been loaded on tankers as of Friday.
The US government has now extended the sanctions for Russian oil, contrary to previous statements.
U.S. Extends Sanctions Waiver on Russian Oil Purchases
The administration of U.S. President Donald Trump issued a one-month sanctions waiver on Friday, permitting the sale of Russian oil and petroleum products currently at sea, extending an earlier measure aimed at easing rising energy prices. The license, issued by the Treasury Department, came just two days after Treasury Secretary Scott Bessent said that Washington would not extend the waiver. The updated decision allows the purchase of oil and p…
The US government on Friday lifted sanctions on Russian oil and petroleum products. The new authorization will be valid until May 16. The waiver, issued by the US Treasury Department, allows countries to purchase Russian oil and petroleum products that were already loaded on ships as of Friday. The move replaces a previous 30-day waiver that expired on April 11 and did not apply to transactions with Iran, Cuba and North Korea. The decision is ai…
The United States, with a new turnaround, still extends the relaxation of sanctions on Russian oil and oil products already on board. On April 17, the license was extended by a month to the delight of the Kremlin, despite three days ago the Secretary of the Treasury Scott Bessent had excluded the renewal of the derogation granted on March 13 explaining: "It was oil that was already present at sea before March 11. So it was all used. The measure,…
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