US issues 30-day sanction waiver for Russian oil

“US issues 30-day sanction waiver for Russian oil The United States has extended a waiver allowing access to Russian oil , as it moves to ease pressure on global energy supplies following its on Iran and the resulting bloackade on the Strait of Hormouz. Treasury Secretary Scott Bessent said Washington will issue a 30-day general licence to enable the temporary release of cargoes blocked during recent disruptions. The measure follows an earlier waiver introduced during the Strait of Hormuz blockade amid the US-Israel war on Iran, when supply fears drove up prices. The policy aimed to stabilise markets, but it has failed to bring down petrol costs in the United States. Bessent said the extension will give governments and buyers more room to manage supply constraints. “This extension will provide additional flexibility, and we will work with ‌these nations to provide specific licenses as needed. This general license will help stabilise the physical crude market and ensure oil reaches ⁠the most energy-vulnerable countries,” he wrote on X.

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