Washington will not extend waiver of sanctions on Russian oil
The aim is to punish Moscow for invading Ukraine and Iran for continuing its nuclear program and financing armed groups such as Hezbollah in Lebanon.
Treasury Dept.
(AFP) Treasury Secretary Scott Bessent said Wednesday that Washington does not plan to extend a temporary sanctions waiver that allowed the sale of Russian oil already in transit by sea.
"We will not renew the general license on Russian oil," he told a news conference, a day after the Treasury Department announced it would also not extend a similar measure for Iranian oil.
Both measures were aimed at cushioning global supply shocks stemming from the war unleashed in the Middle East, between the United States and Israel with Iran.
">.@PressSec on the blockade of Iran: "It has been fully implemented, and it's being enforced against vessels of all nations entering or departing Iranian ports... This includes all Iranian ports on the Arabian Gulf and the Gulf of Oman— and our U.S. forces in the region are… pic.twitter.com/yUNKTYcuxz
— Rapid Response 47 (@RapidResponse47) April 15, 2026
They were also aimed at cutting the revenues of the authorities in both countries.
The aim is to punish Moscow for invading Ukraine and Iran for continuing its nuclear program and financing armed groups such as Hezbollah in Lebanon.
However, in March, Washington implemented a temporary waiver allowing the sale of oil from these countries to moderate price increases following the war in the Middle East.
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