US extends waiver on Russian oil sanctions
AP News • • nation
Key Points:
- The U.S. Treasury Department extended its 30-day pause on sanctions for Russian oil shipments to alleviate shortages caused by the Iran war, despite earlier statements ruling out such a move.
- The general license allows Russian oil loaded on tankers as of Friday to avoid U.S. sanctions for 30 days, continuing a similar license issued in March.
- This extension highlights how the Iran war's impact has enabled Russia to increase profits from energy exports despite sanctions linked to the Ukraine invasion.
- Secretary Scott Bessent had previously stated at the White House that neither the Russian nor Iranian oil general licenses would be renewed, but the administration has not explained the recent policy reversal.
