US quietly allows waiver on Russian oil to expire
The lapse ends a 30-day license issued in March as officials weighed allied criticism and pressure from Asian economies facing fuel shortages.
- A temporary United States sanctions waiver permitting the sale and delivery of Russian seaborne crude oil expired for the third time on Wednesday, as the Treasury Department did not publish an extension.
- The Trump administration issued the initial waiver in March to mitigate global energy market disruptions caused by the Iran war, which effectively blockaded the Strait of Hormuz.
- Market anticipation of a finalized United States-Iran deal has triggered a sharp drop in energy prices, with Russian Urals crude falling below $65 per barrel from around $120 during the war.
- During the G7 summit on Tuesday, President Donald Trump stated the White House is "in a position" to let the license lapse because "the oil is now flowing" through the Strait.
- United States envoys Steve Witkoff and Jared Kushner will visit Moscow soon to discuss ending the war in Ukraine, the Kremlin said on Sunday, while Tehran expects to begin selling oil later this week.
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11 Articles
US quietly allows waiver on Russian oil to expire
The U.S. Treasury on Wednesday did not publish an extension of its waiver of sanctions on Russian seaborne oil that ran out at midnight, but President Donald Trump and administration officials did not say whether that meant the measures would be re-imposed.
Democratic senators ask Trump not to extend sanctions exemptions for Russian oil - THE LOCAL REPORT ARTICLES
WASHINGTON: Two Democratic senators are urging President Donald Trump not to further waive U.S. sanctions on purchases of Russian oil, arguing that doing so is unwarranted now that the war with Iran is now over. Democratic senators ask Trump not to extend sanctions exemptions for Russian oil Senators Jeanne Shaheen and Elizabeth Warren said in […] The post Democratic senators ask Trump not to extend sanctions exemptions for Russian oil appeared …
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