US extends Russian oil waiver
Countries can buy Russian oil loaded on to vessels between April 17 and May 16
The waiver applies to vessels already sanctioned under the Russian programme in a bid to ease supply shocks created by the Hormuz crisis
THE US waiver on Russian oil sales has been extended into next month, as the US Treasury looks to counter supply restrictions as a result of the Strait of Hormuz crisis.
Countries can buy Russian oil loaded on to vessels between April 17 and May 16. This waiver replaces the previous one issued on March 19 and that expired on April 11.
Critically, the license excludes any person located in Iran, North Korea, Cuba or the Covered Regions of Ukraine (territories occupied at least in part by Russia). It also excludes any transaction involving Iran or Iranian-origin goods or services.
Speaking when the initial waiver was announced, US Treasury Secretary Scott Bessent said it aimed to promote “stability in global energy markets”.
But Ukrainian President Volodymyr Zelenskyy said “every dollar paid for Russian oil is money for the war” via social media platform X.
He warned that the estimated 12m tonnes of oil on 110 Russian shadow fleet* tankers could net Moscow $10bn, “a resource that is directly converted into new strikes against Ukraine”.