US may lift sanctions on Russian oil for two key reasons, says Bloomberg
Photo: US could lift sanctions on Russian oil (Getty Images)
The United States may in the future temporarily lift sanctions again on Russian-origin oil transported by tankers, according to Bloomberg.
The administration of US President Donald Trump did not extend a license on May 16 that allowed importing countries to temporarily purchase Russian oil.
However, according to the agency, as in previous cases, lobbying from Asian US allies and rising tensions in the oil market could prompt the Trump administration to issue a new permit for the purchase of sanctioned oil later.
What happened before
Recall that on March 13, the US Department of the Treasury temporarily eased oil sanctions against Russia, allowing Moscow to sell oil that had already been shipped, effectively softening sanction pressure on the country.
At the same time, Ukrainian President Volodymyr Zelenskyy stressed that there are currently no grounds to ease sanctions pressure on Russia, as it would only encourage the Kremlin’s aggression.
Later, US Treasury Secretary Scott Bessent said in April that Washington would not extend sanctions exemptions allowing the purchase of certain grades of Russian oil. However, two days later, the Treasury ultimately issued a new waiver.
It is also worth noting that by the end of April, Bessent stated that the United States was "cutting off oxygen" to Russian and Iranian oil exports. He said Washington would no longer make concessions to aggressors in order to stabilize global prices.
