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The U.S. Extends Waiver for Russian Oil Sold on Water

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The US has extended the exemption for the sale of Russian oil on water

The US Treasury Secretary announced that Washington has extended the exemption for the sale of Russian oil on water from US sanctions for another 30 days

Scott Besant said this decision was made to help the most vulnerable countries access Russian oil

This is the second time since the start of the Iran war that the US is extending this exemption, a move that coincides with ongoing disruptions in the Strait of Hormuz and the rise in global energy prices

Under this license, a portion of Russian oil that was previously loaded and stored on tankers can be temporarily sold

Agence France-Presse reported that the price of gasoline in the US is now about 50% higher than at the start of the Iran war

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