The U.S. has announced that it will increase pressure on Russian oil
The administration of U.S. President Donald Trump is unlikely to extend special waivers for the purchase of Russian oil subject to sanctions, despite concerns over high fuel prices. This was stated by Energy Secretary Chris Wright.
This was stated by U.S. Energy Secretary Chris Wright, according to Bloomberg.
The Department of Energy’s Position
According to the publication, Chris Wright said that Washington does not plan to grant new exemptions from the sanctions regime. Previously, the U.S. Treasury Department had temporarily allowed the sale of Russian crude oil that was stranded on tankers at sea due to supply disruptions.
"That was a broad deferral. I don’t think you’ll see it extended," Wright emphasized during a Wall Street Journal event.
The previous authorization to sell Russian crude expired on April 11.
A separate waiver covering Iranian oil and petrochemical products expires on April 19.
The situation on the global market
The decision comes amid a significant rise in energy prices. Since the start of the war, oil prices have risen by more than 30%, triggering higher prices for gasoline and jet fuel.
The situation is complicated by the naval blockade of the Strait of Hormuz, imposed by Donald Trump after the failure of negotiations with Iran.
One-fifth of the world’s oil supply passes through this route, and its closure has caused a massive disruption in market supplies.
The UK stated that the world has not become safer following the US strikes on Iran.
As a reminder, U.S. President Donald Trump announced that he had agreed to a two-week ceasefire with Iran, during which the parties plan to finalize a definitive agreement.
Iran agreed to open the Strait of Hormuz to shipping for two weeks—for the duration of the ceasefire with the US. This agreement is part of broader negotiations aimed at de-escalation in the region.
According to anonymous sources, Chinese officials held talks with Iranian representatives to encourage Tehran to cooperate and facilitate a ceasefire with the United States.
