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Bessent Grants a 30-Day Extension for Russian Oil in Tankers as Iran War Squeezes Supply
Scott Bessent said the move will help vulnerable countries access stranded cargoes and stabilize crude markets as prices keep rising, officials said.
- On Monday, Treasury Secretary Scott Bessent announced a 30-day extension of a sanctions waiver allowing energy-vulnerable nations to purchase Russian oil cargoes currently stranded at sea.
- This extension addresses supply shortages sparked by the US-Israel-Iran conflict, which has blocked the Strait of Hormuz and driven global gasoline costs more than 50% higher since the war began.
- Bessent said the waiver would "provide additional flexibility" to stabilize physical crude markets while ensuring oil reaches vulnerable countries and limiting China's ability to stockpile discounted Russian crude.
- At a G7 gathering in Paris on Monday, Ukrainian Finance Minister Serhiy Marchenko urged allies to impose additional sanctions on Russia, while Bessent pressed for tighter enforcement against Iranian illicit finance.
- Brent crude rose about 1.5 percent on Monday to roughly $111 a barrel, while sanctions expert Brett Erickson of Obsidian Risk Advisors said extensions have become "just inevitable" until normalization.
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Exception license due to increased oil prices had expired on Saturday - already second extension applies for another 30 days.
Energy prices are still high. Now, the US is extending the exceptions to sanctions for Russian oil. For another 30 days, the purchase of Russian oil, which is on ships, is allowed.
·Hamburg, Germany
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Associated Press News+2 Reposted by 2 other sources
Bessent grants a 30-day extension for Russian oil in tankers as Iran war squeezes supply
Treasury Secretary Scott Bessent says the U.S. will give a 30-day extension for countries to import Russian oil already in tankers at sea.
·United States
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US Extends Russian Oil Waiver As Bessent Urges Tougher Iran Sanctions
The US Treasury Department has extended for another 30 days a sanctions waiver allowing at-risk countries to purchase Russian oil shipments at sea, as supply disruptions linked to the US-Israeli conflict with Iran continue to roil global energy markets.
·Czechia
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Total News Sources29
Leaning Left7Leaning Right5Center8Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 35%
C 40%
R 25%
Factuality
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