US eased sanctions on Russia after requests from "vulnerable" countries, Trump administration says

The Trump administration has said it extended waivers on oil sanctions against Russia and Iran after requests from "vulnerable" countries affected by the blockade of the Strait of Hormuz.

Source: Scott Bessent, US Secretary of the Treasury, during a Senate hearing; European Pravda

Details: During a hearing before the Senate Appropriations Committee, Democratic Senator Chris Coons asked Scott Bessent why the administration had initially refused to extend relief from oil sanctions on Russia but then went on to renew the waivers.

"Your Treasury Department lifted sanctions on Russian oil, giving them an extra U$150 million a day in revenue. And those funds are going not just to kill Ukrainians, but Russia's using its profits to support Iran with drones and intelligence to kill our troops… Can you give any brief idea why it's a good idea to relieve sanctions on Iranian and Russian oil?" Coons asked Bessent.

The minister admitted that Russia has benefited financially from the lifting of sanctions. He also said, however, that if the US had not done this, global oil prices might have been at US$150 a barrel instead of US$100, and claimed American consumers were therefore better off.

Bessent also said the US decided to ease the sanctions on Russia and Iran again after receiving appeals from 10 countries affected by the global rise in energy prices. He added that Washington had not planned to make that decision.

Quote from Bessent: "Last week was Bank Week – World Bank and IMF Week. And on Wednesday, it was my belief we would not do it. I was approached by more than 10 of the most vulnerable and poorest countries in terms of energy. And they asked us to extend that sanction."

Background:

• On 18 April, the US waived sanctions restrictions on the purchase of Russian oil and petroleum products at sea for a further 30 days.
• This was despite the fact that representatives of the US administration had given public assurances that they did not intend to extend the waivers on sanctions for Russian oil.
• Ukrainian President Volodymyr Zelenskyy pointed out that Russian oil revenues are "directly converted" into fresh strikes on Ukraine by Russian forces.

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