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Temporary easing of sanctions brought Russia about $2 billion, - Bessent
Russia could have earned about $2 billion from oil sales during the temporary easing of sanctions. Washington does not plan to extend the relevant licenses.
As reported by Censor.NET with reference to Suspilne, U.S. Treasury Secretary Scott Bessent announced this during a press conference at the White House.
He stated that Russia was selling oil that had already been shipped out to sea.
"They would have sold Russian barrels that were already at sea. Those barrels were headed to China anyway. We directed them to our allies and helped stabilize the price of oil," Bessent noted.
He also emphasized that the U.S. will not renew licenses for the sale of Russian and Iranian oil.
"We will not renew the general licenses for Russian and Iranian oil. And we were talking about oil that was at sea as of March 11—all of that oil has already been used," Bessent added.
What led up to this?
- The US Department of the Treasury announced the removal of a number of individuals and entities from the sanctions list linked to Russia.
- The United States has issued a 30-day licence allowing countries to purchase Russian oil and petroleum products that are subject to sanctions and are currently on tankers at sea. Treasury Secretary Scott Bessent described this move as a measure to stabilise global energy markets, which have been unsettled by the war with Iran.
- U.S. sanctions against Russian oil have gone back into effect after the Trump administration decided this weekend not to extend the waiver that had been granted due to the war with Iran.
