US Secretary of the Treasury Scott Bessent announced that the special exemption has been extended for another 30 days. This refers to Russian oil already loaded onto tankers and at sea. Now, individual countries will be able to continue purchasing it.
Illustrative photo. Photo: Stringer/Anadolu via Getty Images
The main reason for this decision is the rise in global energy prices. This is linked to the conflict in the Middle East, including the confrontation around Iran. To avoid an oil shortage and sharp price increases, the US decided to temporarily maintain access to these supplies.
This is the second time Washington has extended such a relaxation. Initially, it was introduced in March and was supposed to last only a month. Then it was extended once, and now – again.
Earlier, the same Bessent stated that there were no plans to continue the exemptions. He explained that the measure was introduced at the request of poor and vulnerable countries, which found it difficult to find alternative energy sources. He also believed that the volumes of Russian oil at sea were almost exhausted.
Now, however, the situation has changed again: due to market instability and high prices, the US authorities decided to temporarily deviate from a strict sanctions policy to stabilize supplies and support countries most dependent on imports.
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