US lifts sanctions on Russian oil for 30 days
The US Treasury Department has granted a licence permitting the purchase of Russian oil and petroleum products by sea for a period of 30 days, despite previous statements.
According to Censor.NET, this is stated in a press release fromthe US Treasury Department
"The Office of Foreign Assets Control (OFAC) of the US Treasury Department is issuing General Licence No. 134B ‘Authorising the supply and sale of crude oil and petroleum products of Russian origin loaded onto vessels as of 17 April 2026’," the statement notes.
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 granted a 30-day licence to 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.
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US sanctions against Russian oil came back into force after the Donald Trump administration failed to extend the waiver introduced due to the war against Iran this weekend.
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Russia could have earned around $2 billion from oil sales during the temporary easing of sanctions. Washington does not plan to renew the relevant licences.
