"U.S. sanctions will not apply for 30 days on deliveries of Russian oil that's been loaded on tankers as of Thursday, U.S. Treasury Secretary Scott Bessent said on X. That would give reluctant purchasers a green light to take the oil without worrying that they will run afoul of U.S. sanctions rules."
"Allowing the sale of stranded Russian oil would provide no additional financial benefit for the Russian government because the Kremlin already taxed the oil when it was extracted from the ground, Bessent said. Washington has sanctioned Russia's two biggest oil companies, Lukoil and Rosneft, as part of efforts to end the fighting in Ukraine."
"This easing alone by the United States could provide Russia with about $10 billion for the war. It spends the money from energy sales on weapons, and all of this is then used against us."
The U.S. Treasury Department announced a 30-day reprieve on sanctions for Russian oil already loaded on tankers as of Thursday, aimed at stabilizing global crude prices disrupted by Middle Eastern supply shortages. Treasury Secretary Scott Bessent characterized this as a narrowly tailored, short-term measure to keep energy prices low. The Trump administration previously granted similar relief to Indian refineries. Bessent argued the move provides no additional financial benefit to Russia since the Kremlin already taxed the oil upon extraction. However, Ukrainian President Zelenskyy criticized the action, claiming it could provide Russia approximately $10 billion for its war effort, as Russia directs energy revenue toward weapons purchases used against Ukraine.
#russian-oil-sanctions #global-energy-markets #ukraine-russia-conflict #us-foreign-policy #oil-price-stabilization
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