US EditionUS Likely to Renew Russian Oil Waiver Amid Iran War-Driven Price Surge, Reuters Reports
The 30-day license could free up to 100 million barrels of Russian crude as officials seek to curb rising energy prices, sources said.
- President Donald Trump's administration is likely to extend a waiver allowing countries to purchase sanctioned Russian oil, sources told Reuters on Friday. The 30-day license expires today, April 11.
- Treasury Department officials issued the temporary license on March 12 to stabilize markets after global prices spiked following U.S. and Israeli strikes on Iran. Tehran then closed the Strait of Hormuz, a route carrying about 20% of the world's oil.
- Kremlin envoy Kirill Dmitriev stated the license could free up to 100 million barrels of Russian crude, roughly equivalent to about one day of global oil output. This volume provides necessary supply relief to importers vulnerable to energy shocks.
- Senate Minority Leader Chuck Schumer and Democratic Senator Jeanne Shaheen urged the administration on Friday not to renew the license, arguing that sanctions relief to Russia failed to ease the global energy crisis or provide relief for U.S. consumers.
- Critics contend the extension rewards the Kremlin while Russia continues targeting Ukraine with strikes. Republican Senator Jerry Moran said last month that "waiving oil sanctions now advantages the countries that wish to do us harm.
14 Articles
14 Articles
US likely to extend Russian oil waiver to temper Iran war shock, sources say
U.S. President Donald Trump's administration is likely to extend as soon as Friday a waiver allowing countries to buy some sanctioned Russian oil and petroleum products, two sources familiar with the matter told Reuters.
US senators call for end to Russian oil sanctions exemptionsA group of senators has called on the US Treasury to end sanctions exemptions for Russia. These waivers give the aggressor an additional $150 million per day.
US moves to extend Russian oil sanctions waiver to stabilize global markets - Times Kuwait
Washington is expected to extend a key sanctions waiver allowing certain countries to continue purchasing Russian oil and petroleum products, in a move aimed at stabilizing global energy markets amid ongoing geopolitical tensions. According to informed sources, the administration of US President Donald Trump is likely to renew the exemption starting Friday. The measure forms part of broader efforts to contain volatility in global oil prices foll…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
