Bessent Extends Russian Oil Sanctions Relief for 30 Days
US Treasury Secretary Scott Bessent said he has extended sanctions relief on Russian seaborne oil for 30 days after requests from countries most vulnerable to oil shortages stemming from the closed Strait of Hormuz. Bessent disclosed the move during a US Senate Appropriations subcommittee budget hearing.
Bessent said the requests came from finance leaders of about 10 countries during last week’s International Monetary Fund and World Bank meetings, reversing his earlier comments that expiring sanctions waivers would not be renewed. He also said estimates that Iran had gained more than $14 billion from the relief were “a myth,” but did not provide an alternative figure.
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@staunovoUS Treasury Secretary Scott Bessent says that he has extended sanctions relief on Russian seaborne oil for 30 days because of requests from countries that are the most vulnerable to oil shortages from the closed Strait of Hormuz. Bessent t