The U.S. has calculated how much Russia earned as a result of the easing of oil sanctions
Washington has decided not to renew the temporary exemptions for the sale of Russian and Iranian oil, which have already expired. During the period these exemptions were in effect, Russia earned approximately $2 billion from oil sales.
This was announced by U.S. Treasury Secretary Scott Bessent during a press conference at the White House, according to Suspilne.
The official noted that Russia received approximately $2 billion in revenue from fuel sales during the period when the sanctions waivers were in effect. Bessent emphasized that the short-term license applied only to those volumes of crude oil that, as of March 11, were already at sea en route to consumers. According to the minister, stabilizing global energy prices was a priority, which compelled the U.S. to take this step to support its allies. Now that these supplies have been fully utilized, the United States is returning to strict controls without granting new exemptions.
The Treasury Secretary also added that the barrels previously sent out to sea would have ended up on the Chinese market anyway, but the temporary measure helped redirect them and avoid a price spike. Currently, the U.S. government considers the mission to stabilize the market accomplished and sees no grounds for further financial support of the Russian budget through the oil sector.
The administration of U.S. President Donald Trump is unlikely to extend special permits for the purchase of sanctioned Russian oil, despite concerns over high fuel prices. This was stated by Energy Secretary Chris Wright.
U.S. Treasury Secretary Scott Bessent stated that China is behaving like an unreliable partner by stockpiling large volumes of oil during the energy crisis, and also claims that China will no longer be able to obtain oil from Iran. This situation has significant geopolitical and economic implications in the context of the war and international sanctions.
