US does not renew general license for Russian oil purchases
Photo: The United States did not renew the permission for Russian banks to process European oil payments (Getty Images)
The general license for purchasing Russian oil expired on March 12. It means that European countries and US allies can no longer buy oil from Russia without imposing sanctions from Washington, according to Fox News journalist Edward Lawrence.
"A source familiar confirms that the General License to buy Russian oil expired yesterday. That means European Countries and our allies can no longer buy oil from Russia without sanctions from US being imposed. A source tells me this is a negotiation tactic to end the invasion," Lawrence wrote on X.
Meanwhile, another Fox News reporter Jacqui Heinrich confirmed that while US President Donald Trump has not reissued this waiver, no one in his administration has stated it was an oversight rather than a decision.
This comment was in response to journalist Marc Thiessen's report that the US Treasury Department had canceled an exemption of the Biden administration, which allowed sanctioned Russian banks to process European payments for oil sales.
"Now no one in Europe can purchase Russian oil," Thiessen noted.
US President Donald Trump has threatened to increase sanctions against Russia if it refuses to negotiate. However, sanctions may be eased if Russia agrees to a ceasefire.
Meanwhile, according to media reports, Moscow has begun preparing for the lifting of sanctions. Russia is asking companies to suggest which sanctions Moscow should try to lift in negotiations with Washington. Restrictions on payments in dollars are the most painful.
The US Treasury Department said that the United States allows for the imposition of the toughest sanctions against Russia. If necessary, such a decision will be made without hesitation.
