US President Donald Trump’s administration has extended a waiver that allows countries to buy sanctioned Russian oil and oil products loaded on tankers for about another month. The move comes despite criticism from allies and US lawmakers, who say By doing so, Washington eases pressure on Moscow during its war against Ukraine. This is reported by TASR according to a Saturday report by the Reuters agency.
The US Treasury waiver is valid until May 16. It replaces the previous 30-day exemption which expired on April 11. However, it does not apply to transactions with Iran, Cuba and North Korea.
American Finance Minister Scott Bessen said on Wednesday that Washington it will not renew a waiver for Russian oil or another waiver for Iranian oil that expires on Sunday. The latest measure is part of the US government’s efforts to regulate world energy prices, which during the American-Israeli war against Iran, they rose sharply, wrote Reuters.
“As negotiations (with Iran) gather momentum, the Treasury Department wants to ensure that oil is available to those who need it,” said a spokesman for the Ministry of Finance.
The first exemption will release one hundred million barrels of Russian oil, which corresponds to almost daily world production, said the special envoy of the Russian president for investments and economic cooperation with foreign countries Kirill Dmitriyev.
According to Reuters, the exemptions could complicate matters the West’s efforts to deprive Russia of income for the war against Ukraine and put Washington at odds with the Allies. The President of the European Commission, Ursula von der Leyen, said that now is not the time to relax sanctions against Russia.
Oil prices on world markets fell about nine percent on Friday after Iran temporarily reopened the Strait of Hormuz. However, the conflict has already caused a significant disruption in global energy supplies and damaged dozens of oil and gas facilities in the Middle East.
