The U.S. is revoking oil exemptions for Russia and Iran — Bloomberg
The White House is returning to a policy of maximum sanctions pressure on the energy sectors of Russia and Iran. U.S. Treasury Secretary Scott Bessent confirmed that the Donald Trump administration will not renew the special licenses that allowed limited trade in sanctioned oil.
This was reported by Bloomberg.
“We will not renew the general license for Russian oil, and we will not renew the general license for Iranian oil,” Bessent emphasized.
It is worth noting that this statement came amid a critical situation in the Strait of Hormuz—a key maritime artery through which about 20% of the world’s oil is transported. Due to the virtual paralysis of traffic along this route, global oil prices have surged by more than 30% since the outbreak of the military conflict.
As of Wednesday, April 15, oil futures are trading at around $95 per barrel, while Washington and Tehran discuss a possible extension of the two-week ceasefire.
Previously implemented exemptions allowed allies to purchase oil that had already been loaded onto tankers before the sanctions were tightened. The exemptions for Russian oil expired last Saturday, and the authorization for Iranian shipments will be revoked this Sunday.
Such moves by Washington are causing serious concern among Asian partners. In particular, India and the Philippines have tried to persuade the U.S. to maintain the waivers, and Indian Prime Minister Narendra Modi emphasized the need to ensure freedom of navigation during a phone call with Trump. However, Scott Bessent has so far left unanswered the question of whether individual waivers will be granted to specific countries or companies.
In the U.S., two politicians resigned ahead of the vote.
U.S. Treasury Secretary Scott Bessent also stated that China is behaving like an unreliable partner by stockpiling large volumes of oil during the energy crisis, and asserted that China will no longer be able to obtain oil from Iran.
U.S. President Donald Trump announced a strategic decision to “open permanently” the Strait of Hormuz, which is a key artery for global oil exports.
