The U.S. has not extended the exemption allowing the purchase of some Russian oil — Bloomberg

The administration of U.S. President Donald Trump has not renewed the temporary license that allowed the purchase of certain shipments of Russian oil loaded prior to the imposition of restrictions.

This was reported by Bloomberg.

This refers to a temporary exemption from the sanctions regime that the U.S. imposed in March and subsequently extended once in April. The license applied only to a portion of Russian oil that was already on tankers.

As the agency notes, the decision was made despite concerns about global oil supplies amid the escalating situation in the Middle East and risks to shipping in the Strait of Hormuz.

According to Bloomberg, some countries, notably India and Indonesia, urged Washington to extend the exemption due to the risk of a shortage in the global oil market.

At the same time, critics of previous sanctions relief pointed out that even limited permission allowed Moscow to reap additional profits from rising oil prices.

The EU has expanded sanctions against Russia for the abduction of Ukrainian children.

The EU is preparing a new package of sanctions against Russia targeting the shadow fleet.