US EditionBessent Extends Russian Oil Sanctions Relief for 30 Days After Country Requests
Bessent said the extension will help lower energy prices after finance leaders from about 10 countries asked for more time.
- On Wednesday, Treasury Secretary Scott Bessent announced a 30-day extension of sanctions relief for Russian oil, aiming to lower global energy prices following supply disruptions.
- Bessent acted after being "approached by more than 10 of the most vulnerable and poorest countries in terms of energy" amid shortages from the closed Strait of Hormuz.
- Ukrainian President Volodymyr Zelenskyy condemned the relief, arguing it funds Moscow's war, though Bessent dismissed claims that Iran gained $14 billion from the policy as "a myth."
- Just two days after Bessent told reporters Washington would not renew the waiver, he reversed the decision following pleas from finance leaders last week.
- The Treasury also noted that "swap lines, whether it's from the Federal Reserve or the Treasury, are to maintain order in the dollar-funding markets" amid volatility.
43 Articles
43 Articles
US Treasury Secretary Scott Bessent on Wednesday defended President Donald Trump's administration's recent decision to temporarily extend a sanctions waiver allowing the sale of Russian oil already offshore.
The US Treasury Secretary, Scott Bessent, defended before senators on Wednesday the government's decision to renew the temporary suspension of sanctions against Russian oil, which had been put in place after the invasion of Ukraine in 2022.
The U.S. Secretary of Finance reported it.
The Secretary of the Treasury, Scott Bessent, justified Wednesday the Trump administration’s sudden change of position on sanctions against Russian oil. Last week, the government took an unexpected turn and announced the 30-day extension of the sanctions exemption allowing the purchase of Russian oil and derivatives already loaded on ships. Economy Despite pressure, Trump’s nominee to lead the Fed promises independence before the Senate Joaquín …
How long will sanctions against Russia be extended? The Trump administration has extended a sanctions waiver that allows the sale of Russian oil, RBC-Ukraine reports, citing The New York Times. Read also: Trump again bans Russian ships from docking in the US: what reason did he give? US Treasury Secretary Scott Bessent stated that the decision was made following appeals from more than a dozen poor countries during the spring meetings of the Inte…
Scott Bessett said the government's decision to allow the sale of seized Russian and Iranian oil for a month was made following requests from countries in dire straits.
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