The US Treasury Secretary, Scott Bessent, announced that Washington will not extend the suspension of sanctions on Russian oil stored at sea, which was decided on March 12 to ease the surge in oil prices.
The American Finance Minister announced on Wednesday that the United States will not extend the suspension of sanctions on Russian oil stored at sea, which was decided to mitigate the impact of the rise in oil prices.
“We will not renew the license on Russian oil,” said Treasury Secretary Scott Bessent at a press conference. His ministry had announced the same thing the day before regarding Iranian oil.
The United States had temporarily allowed, on March 12, the sale of Russian oil stored on ships to cope with the surge in prices and shortages that have affected many Asian countries. This authorization was valid until April 11. Scott Bessent then explained that this decision would not bring “significant financial benefits to the Russian government, which collects the majority of taxes at the time of extraction” of oil.
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