Exemptions would be given to allied countries on a case-by-case basis, US Treasury Secretary said
The Secretary of the Treasury of the United States, , stated this Thursday (June 4, 2026) that the North American government is considering granting authorizations for the purchase of oil from Russia on an individual basis, by country, instead of adopting a broad release.
The statement was made during testimony at . Bessent responded to questions from the congressman (Republican) about the successive exemptions that exclude Russian oil transported by sea from Washington’s sanctions because of the war in Ukraine.
Specific criteria
According to the secretary, management tends to apply specific criteria to new requests. It also stated that Russia has gained little additional revenue from current permits. Bessent stated that oil, previously mainly directed to China, can now be acquired by nations “US allies”.
When asked about a bill that establishes tariffs of 500% on Russian imports and against countries that economically support Moscow, Bessent stated that a rate of this level works, in practice, as an embargo. The secretary said that more vulnerable countries asked for the extension of the original exemptions during meetings of the (International Monetary Fund) and the this year.
Support for Ukraine
During the hearing, Bessent declared American support for Kiev. He said that the government of the former president (Democrat) did not adopt a rigid stance against Moscow at the beginning of the conflict.
After the testimony, Representative Brian Fitzpatrick (Republican) stated that the secretary demonstrated a defensive attitude and said he intends to resume conversations on the topic. The congressman stated that severe economic sanctions are the only effective means of putting pressure on the management of (independent).
