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US Reinstates Russian Oil Waiver Despite Earlier Vow to End it
(MENAFN) According to reports, the United States has renewed a sanctions exemption allowing Russian crude oil and petroleum products already loaded onto tankers to be delivered and sold, reversing an earlier indication that the waiver would not be extended.
The US Treasury Department issued a general license permitting Russian oil loaded onto vessels as of April 17 to continue to its destination, with authorization for related transactions through May 16. The measure also covers services such as port access, insurance, emergency repairs, and crew-related support, including for previously sanctioned ships.
The decision replaces an earlier temporary authorization introduced in March and is seen as extending limited flexibility for shipments already in transit.
Officials had previously stated that such waivers for Russian and Iranian oil would not be renewed, making the latest move a reversal of that position, according to reports.
The waiver was initially introduced in response to concerns over global oil price stability amid wider geopolitical tensions affecting energy supply routes.
Russian officials have previously dismissed the impact of such measures, arguing that shipments already at sea continue unaffected and that sanctions have limited practical effect on ongoing exports.
The US Treasury Department issued a general license permitting Russian oil loaded onto vessels as of April 17 to continue to its destination, with authorization for related transactions through May 16. The measure also covers services such as port access, insurance, emergency repairs, and crew-related support, including for previously sanctioned ships.
The decision replaces an earlier temporary authorization introduced in March and is seen as extending limited flexibility for shipments already in transit.
Officials had previously stated that such waivers for Russian and Iranian oil would not be renewed, making the latest move a reversal of that position, according to reports.
The waiver was initially introduced in response to concerns over global oil price stability amid wider geopolitical tensions affecting energy supply routes.
Russian officials have previously dismissed the impact of such measures, arguing that shipments already at sea continue unaffected and that sanctions have limited practical effect on ongoing exports.
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