US Treasury Secretary Scott Bessent told The Associated Press that Washington has no plans to extend a temporary waiver from US sanctions on Russian oil and oil products.
“I don't think there will be another extension. I think the Russian oil that was loaded on ships at sea is largely depleted,“ he said.
Bessent ruled out the possibility that the US Treasury would issue a new general license that would temporarily allow the sale of Iranian oil loaded on tankers. “That's not going to happen with the Iranians. The blockade is in place; "The oil is not being shipped," he said.
On March 12, the U.S. Treasury Department lifted sanctions on the sale of oil and petroleum products from Russia loaded onto ships before that date. On March 19, it renewed the license, adding provisions prohibiting transactions involving several regions of the Russian Federation, as well as North Korea and Cuba. The license expired on April 11. At a White House briefing on April 15, Besant said that Washington did not plan to extend the sanctions exemption for Russian and Iranian oil stored on tankers at sea.
However, on April 17, the U.S. Treasury Department issued a license allowing the sale, transportation, and unloading of oil and petroleum products of Russian origin loaded onto tankers before April 17 until May 16.