The US has decided to extend the exemption for sanctions on Russian oil transported by sea.
Reuters reports this, citing sources.
This exemption expired on May 16. Agency sources say it will be extended for another 30 days.
UPD (20:00): The US Treasury Secretary Scott Bessent confirmed that the US has extended the exemption from sanctions on Russian oil stuck at sea for another 30 days.
According to him, in this way the US will help countries that have energy problems, and also reduce Chinaʼs ability to stockpile oil at a discount. Specific licenses will be issued to countries as needed.
What preceded
On March 13, the United States lifted sanctions on the purchase of Russian oil stuck at sea for 30 days. This applies to oil loaded onto ships as of March 12. The license allowed these deliveries until April 11.
The US explained at the time that the decision was made against the backdrop of rising prices due to the war in Iran — to promote stability in global energy markets and keep prices low.
On April 15, when a month had passed and sanctions were reimposed, US Treasury Secretary Scott Bessent stated that the US would not extend the relief. However, on April 18, the US Treasury Department extended them until May 16.
Bessent later said that he had been asked to do so by more than ten of the poorest and most energy-vulnerable countries. He also believes that easing sanctions, on the contrary, gives Russia less opportunity to earn. The logic is this: the price of oil is now about $100 per barrel, and without these easings it would be $150 per barrel, and then Russia could sell its other oil at much higher prices.
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