US Treasury allows sanctions waiver on Russian seaborne oil to lapse
The move ends a temporary exception that had let countries including India keep buying Russian seaborne crude as oil prices remained elevated.
- On Saturday, The Trump administration allowed a sanctions waiver to lapse, ending a temporary license that permitted countries, including India, to purchase Russian seaborne oil.
- Treasury Secretary Scott Bessent had previously extended the license to stabilize global energy prices amid shortages caused by the war since February 28 and Iran's closure of the Strait of Hormuz.
- India, the top consumer of Russian crude, saw purchases reach near-record highs in April and May, while American gasoline prices remain elevated at about $4.50 a gallon, the highest since 2022.
- On Friday, Democratic Senators Jeanne Shaheen and Elizabeth Warren urged the administration against renewal, arguing the waiver funded Russia's war in Ukraine without lowering fuel costs for American consumers.
- Broader energy policy adjustments remain possible, as President Trump recently discussed potentially lifting sanctions on Chinese companies buying Iranian oil with the Chinese President to address ongoing supply challenges.
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66 Articles
U.S. sanctions on Russian oil are resuming, raising fears of a sustained rise in energy prices. But between Asian pressures and geopolitical tensions, Washington would already hesitate to restore energy prices to...
US Allows Sanctions Waiver on Russian Oil to Expire - The Thinking Conservative News
The U.S. ended a sanctions waiver for certain Russian oil shipments, tightening rules on crude already loaded onto tankers amid broader pressure push. The post US Allows Sanctions Waiver on Russian Oil to Expire appeared first on The Thinking Conservative News.
US Allows Sanctions Waiver on Russian Oil to Expire
The U.S. government has allowed an April 17 sanctions waiver on certain Russian oil shipments to expire, ending a policy that permitted some Russian crude already loaded onto tankers to continue being sold and transported through global markets without triggering U.S. sanctions penalties. The U.S. Department of the Treasury’s Office of Foreign Assets Control did not reissue the Russia-related waiver. It was introduced in April as global energy m…
White House appears to let Russian oil sanctions waiver lapse
The United States appears to have let a waiver on sanctions of Russian oil expire after renewing it last month. In April, 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, excluding Iran, Cuba and North Korea. Trump administration officials said this was aimed at easing oil prices amid the Iran war, during which the Strait of Hormuz has been…
berlingske.dk
The US easing of sanctions against Russia has been met with criticism. However, it expired this weekend.
The Iran war and its consequences drive energy prices up. The US government temporarily relaxed the sanctions on Russian oil. Now the derogation has expired.
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