Business
US Extends Russian Oil Sanctions Waiver by One Month for In-Transit Shipments
The United States has extended by one month a sanctions waiver allowing countries to purchase petroleum products from Russia, days after indicating that the exemption would not be renewed.
According to an order issued by the US Department of the Treasury, the waiver now permits transactions involving Russian oil cargoes that were already at sea on or before April 17, with the extension remaining valid through May 16.
The earlier waiver, first granted in March, had enabled countries including India to continue buying Russian oil despite sanctions linked to the Ukraine conflict. The Treasury clarified that the licence does not cover transactions involving individuals or entities connected to Iran, North Korea, Cuba, or certain occupied regions of Ukraine.
The move comes as global oil markets remain sensitive to geopolitical tensions, including the ongoing US-Iran conflict, which has contributed to volatility in energy prices.