US restores full sanctions on Russian oil after waiver expires – Politico

US sanctions on Russian oil have returned to full force following the expiration of a temporary waiver allowed under President Donald Trump's administration.

Source: European Pravda, citing Politico, a Brussels-based politics and policy news organisation

Details: The US sanctions on Russian oil came back into effect after Trump's administration allowed the exemption to expire over the weekend.

The US Treasury Department did not respond to questions from Politico, but pointed to a statement by Treasury Secretary Scott Bessent, who described the easing of sanctions on Russia as a "narrowly tailored, short-term measure". In March, restrictions were lifted on Russian oil that had already been loaded onto vessels as of 12 March.

Sources in the US Senate noted that the expiry of the waiver is hardly cause for celebration, as Russia continues to use numerous alternative routes to sell its oil.

"Even before the license was issued, sanctioned Russian oil was finding its way to market because the Trump administration had not imposed any Russia counter-evasion sanctions, whether on oil sales or on critical procurement for the Kremlin's war machine, in more than a year," an anonymous Democratic Senate aide said.

Washington justified the easing of sanctions against Russia by citing the global rise in oil prices resulting from the US and Israeli war against Iran and Iran's strikes on many Gulf states, which has effectively paralysed oil exports from the region. Similar decisions were taken regarding Venezuelan and Iranian oil.

US Treasury Secretary Scott Bessent subsequently stated that Washington's easing of sanctions on Russian oil would bring Moscow "insignificant" profits of approximately US$2 billion.

US President Donald Trump has repeatedly said that the Strait of Hormuz will be unblocked one way or another. On Friday, he again stated that this would happen "pretty soon".

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