WASHINGTON — The Treasury Department announced Friday it would continue suspending penalties on Russian oil deliveries for another month, contradicting recent statements from Treasury Secretary Scott Bessent who had rejected such action.
The 30-day waiver protects Russian petroleum shipments already loaded onto vessels as of Friday from facing U.S. sanctions. This marks the second such exemption, following a similar temporary measure implemented in March that covered oil loaded by March 11. The decision highlights how ongoing conflict in Iran has strengthened Russia’s position in global energy markets, despite restrictions imposed following Moscow’s Ukraine invasion.
During a White House appearance Wednesday, Bessent had firmly dismissed the possibility of continuing the waiver program. “We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil,” he stated. Federal officials have not yet provided an explanation for changing course on this policy position.
