US says it will no longer ease sanctions on Russian oil

The US administration does not plan to extend exemptions from sanctions on Russian oil, US Treasury Secretary Scott Bessent has said.

Source: Bessent at a briefing in the White House, as reported by European Pravda

Quote from Bessent: "We'll not be renewing the general licence on Russian oil, and we will not be renewing the general licence on Iranian oil. Again, that was oil that was on the water prior to 11 March. So all that has been used."

Details: European Pravda notes that on 12 March, the US lifted sanctions on Russian oil that had already been loaded onto tankers at sea at the time. These exemptions were in place until 11 April.

Bessent said Washington does not intend to renew the sanctions waivers on Russian and Iranian oil.

The exemptions for Tehran are set to expire on 19 April.

Background:

• US Energy Secretary Chris Wright said earlier that the administration is unlikely to grant a new exemption allowing countries to purchase sanctioned Russian oil as part of any measures to curb high fuel prices.
• It was also reported that the US administration has extended an exemption from sanctions, allowing petrol stations operated by Russia's Lukoil outside Russia to continue operating until the end of October.

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