US issues 30-day sanctions waiver for purchase of Russian oil at sea
The Straits Times
March 13 - The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war. Read more at straitstimes.com.
March 13 - The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.
Oil prices eased on Friday morning in Asia after the U.S. waiver announcement, which, according to Russia's presidential envoy Kirill Dmitriev, would affect 100 million barrels of Russian crude, equal to almost a day's worth of global output.
The move, the second significant rollback of Ukraine war-related U.S. sanctions in just over one week, was the latest attempt by President Donald Trump's administration to tame energy prices after the U.S. and Israeli strikes on Iran paralyzed shipping through the Strait of Hormuz.
The 32-nation International Energy Agency said on Thursday that the war in the Middle East was creating the biggest oil supply disruption in history.
WAIVER RUNS TILL APRIL 11
The licence issued by Washington on Thursday authorizes the delivery and sale of Russian crude oil and petroleum products loaded on vessels on or before March 12 and valid through midnight Washington time on April 11, according to the text of the licence posted on the Treasury Department's website.
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