The U.S. eases restrictions on Russian oil for the second time this week — Reuters
The U.S. Treasury Department has once again granted a temporary waiver for transactions involving Russian oil—just two days after the previous sanctions relief period expired. This decision effectively eases restrictions for the third time, allowing certain transactions during a transitional period. The details and duration of the new waiver have not been specified.
Reuters reports this, citing a knowledgeable source.
This decision was made in response to requests from several countries for more time to purchase Russian oil. The new easing will remain in effect for another 30 days.
The U.S. Treasury Department first eased sanctions on Russian oil in early March amid concerns about supply disruptions from the Middle East.
This temporary waiver applied to oil currently “stuck at sea” from March 12 to April 11. Subsequently, the Trump administration extended the sanctions relief until May 16, although U.S. officials had previously assured that they would not extend the sanctions relief.
Russianoil is on the rise again, and this is shifting the balance of Russia’s revenues.
Oil prices have risen amid anticipation of a meeting between Donald Trump and Xi Jinping. Traders are focusing on possible signals regarding a resolution to the conflict with Iran, which has impacted global oil supplies.
