The US has renewed a sanctions exemption allowing Russian crude and petroleum products already loaded onto tankers to be delivered and sold freely, the US Treasury Department has announced. The move came despite a pledge by Treasury Secretary Scott Bessent made two days prior that the waiver would not be extended.
On Friday, the Treasury’s Office of Foreign Assets Control issued a general license covering Russian oil loaded onto vessels as of April 17 and authorizing transactions through May 16. The waiver replaces an earlier 30-day order – which took effect on March 19 – and extends to services including safe docking, crew safety, emergency…
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