United States extends Russia oil delivery exemption from sanctions

(Patria) - The United States Department of the Treasury on Friday extended a pause on sanctions for Russian oil deliveries to alleviate shortages caused by the war in Iran, a few days after Secretary Scott Bessent ruled out such a move, AP reported.

The so-called general license means that US sanctions will not apply for thirty days to deliveries of Russian oil that were loaded onto tankers from Friday.

It extended a similar thirty-day license issued in March for oil loaded by March 11.

The extension highlights how the consequences of the war in Iran have increased Moscow's ability to profit from energy exports, which have been limited since the invasion of Ukraine.

Speaking at the White House on Wednesday, Bessent ruled out extending the license.

"We will not renew the general license for Russian oil, and we will not renew the general license for Iranian oil," he said.

The administration did not immediately explain the change, AP reported.