US Treasury Extends Russian Crude Waiver Amid Supply Disruptions
The Treasury Department has extended sanctions relief through mid-May amid global fuel price turmoil tied to the Iran war.
TL;DR
- The Trump administration renewed a key sanctions waiver for Russian oil on April 17.
- The waiver allows countries to purchase Russian oil stranded at sea.
- This decision was made in response to pressure from Asian nations experiencing high energy costs.
- The move reverses a stated position by Treasury Secretary Scott Bessent from two days prior.
- The waiver, General License 134B, is effective through May 16.
- It authorizes transactions for Russian crude and petroleum products loaded onto vessels by the license's issue date.