The US Treasury Department announced Friday the extension, until May 16, of the suspension of most sanctions against the Russian oil industry. This decision comes amid significant fluctuations in energy markets, marked in particular by the reopening of the Strait of Hormuz and the drop in oil prices.
This measure concerns operations related to the export of Russian oil, including loading and delivery, and also extends to vessels associated with the Russian "ghost fleet," which were previously subject to restrictions. However, some limitations remain: transactions involving Iran, North Korea, Cuba, or the occupied Ukrainian territories, including Crimea, remain prohibited.
Washington had already introduced a similar waiver in March to allow the release of Russian oil stored at sea, aiming to contain price increases caused by tensions in the Middle East. This new extension is part of the same strategy to stabilize global energy markets.
This decision, however, appears to contradict recent statements by Treasury Secretary Scott Bessent, who had asserted a few days earlier that the suspension would not be extended beyond its initial period. The rapidly evolving geopolitical situation may have led to an adjustment in the American position.
US sanctions aim to reduce revenues from energy exports by Russia and Iran. However, faced with price volatility and supply risks, the United States has chosen to temporarily ease these restrictions in order to limit tensions in the global oil market.
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