US may lift sanctions on Russian oil for two key reasons — Bloomberg

US may lift sanctions on Russian oil for two key reasons — Bloomberg

Photo: Getty Images

The United States may in the future temporarily lift sanctions on Russian-origin oil transported by tankers, Bloomberg reports.

According to the agency, the administration of President Donald Trump recently chose not to extend a license that previously allowed certain countries to continue purchasing Russian oil under a temporary exemption.

However, Bloomberg notes that, as in earlier cases, lobbying from Asian allies of the United States and rising tensions in global oil markets could prompt Washington to issue a new waiver allowing limited purchases of sanctioned Russian crude at a later stage.

Previously, in March, the US Treasury Department temporarily eased restrictions on Russian oil shipments that had already been loaded, effectively softening enforcement of sanctions. Ukrainian President Volodymyr Zelensky has argued that there are currently no grounds to weaken sanctions pressure on Russia, warning that it would only encourage further aggression.

US Treasury Secretary Scott Bessent later stated in April that Washington would not continue sanctions exemptions for Russian oil. However, the policy position shifted again shortly afterward, when the Treasury issued a new temporary license.

By the end of April, Bessent also said the US was moving to fully restrict Russian and Iranian oil exports, emphasizing that Washington would no longer make concessions aimed at stabilizing global energy prices at the expense of pressure on adversaries.

banner

SHARE NEWS

link

Complain

like0
dislike0

Comments

0

Similar news

Similar news

Photo: EPA U.S. Secretary of State Marco Rubio has arrived in India for talks with Prime Minister Narendra Modi, with energy security expected to be one of the central topics on the agenda, accordin

Photo: EPA President Volodymyr Zelenskyy has pushed back against a proposal by German Chancellor Friedrich Merz suggesting a special “associate membership” status for Ukraine in the European Union,

Photo: Getty Images The head of Estonia’s Foreign Intelligence Service, Kaido Rosin, told CNN that Russian President Vladimir Putin may have only a few months left to negotiate from a position of st

Photo: EPA Czech President Petr Pavel urged NATO to “show its teeth” and take a tougher stance against Russia, including potentially shooting down Russian aircraft violating allied airspace and disc

Photo: EPA According to the outlet, the main focus right now is ending the war. U.S. President Donald Trump convened a meeting with his top national security team on May 22 to discuss the war with

Photo: EPA Slovenian SDS party leader Janez Janša has been elected prime minister after securing a majority vote in the National Assembly, giving him the mandate to form a new government. During th

Photo: depositphotos Iran’s Supreme Leader has issued a directive stating that the country’s enriched uranium must not be transferred abroad, according to Reuters, which cited two senior Iranian sou

Photo: US Department of Defense The move will support US foreign policy and national security goals by strengthening the security of a partner country, the State Department said. The US State Depar