US does not extend license allowing sales of Russian oil – Bloomberg

The administration of the U.S. President Donald Trump has not renewed the license permitting temporary transactions involving the sale of Russian oil.

According to Ukrinform, Bloomberg stated this in an article.

The Trump administration did not extend the waiver that had allowed increased sales of Russian crude oil, despite concerns that the war with Iran could disrupt global oil supplies and drive up fuel prices.

The expiration of the waiver effectively ends a brief period during which the U.S. administration eased sanctions on part of Russia's oil sector, allowing Moscow to conduct transactions that would otherwise have been prohibited.

The Trump administration issued the first waiver in March and a second one after the first expired in April. Both exemptions applied only to a portion of Russian oil that had already been loaded onto tankers.

The report notes that these waivers sparked controversy, particularly among European allies who view sanctions as necessary to deprive Russia of oil revenues used to finance its war against Ukraine.

Critics argue that easing the sanctions enriched Moscow, especially amid rising oil prices.

It is also noted that in April, the Trump administration did not renew another waiver that had allowed the purchase of a certain amount of Iranian crude oil.

As Ukrinform previously reported, in April U.S. Treasury Secretary Scott Bessent confirmed that the United States would not continue general licenses permitting temporary sales of limited amounts of Russian and Iranian crude oil.

However, a few days later, the exemption for Russian oil was nevertheless extended.

Photo: Office of the President of Ukraine