US extends sanctions waiver on Russian oil to aid vulnerable countries
The U.S. has extended a sanctions waiver on Russian oil for an additional 30 days to assist energy-vulnerable countries affected by the Iran war. This decision allows these nations to purchase stranded Russian oil without violating U.S. sanctions. Critics argue that this move benefits Russia and does not significantly impact domestic gasoline prices.
- ▪U.S. Treasury Secretary Scott Bessent announced a 30-day extension of a sanctions waiver for Russian oil.
- ▪The waiver aims to help countries struggling with energy supply due to the U.S.-Israeli war with Iran.
- ▪Critics, including Democratic senators, claim the extension aids Russia's war efforts against Ukraine.
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U.S. Treasury Secretary Scott Bessent poses ahead of a G7 finance ministers and central bank governors meeting in Paris, France, May 18. Reuters-YonhapPARIS — U.S. Treasury Secretary Scott Bessent on Monday announced another 30-day extension of a sanctions waiver allowing purchases of Russian seaborne oil to aid "energy-vulnerable" countries hit by the Iran war, reversing plans not to grant an extension.Bessent said in a posting on X that the Treasury was issuing the 30-day general license after a previous waiver lapsed on Saturday. This will allow temporary access to Russian oil and petroleum products stranded on tankers without violating severe U.S.
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