Russia to not receive significant benefits from easing of US sanctions – Bessent

He stated this on the social network X, Ukrinform reports.

"To increase the global reach of existing supply, the U.S. Treasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea," Bessent wrote.

According to him, this step by the U.S. administration is intended to support the stability of global energy markets and prevent a price spike amid the U.S.–Israeli operation against the Iranian regime.

"This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction," he assured.

He added that any increase in oil prices would be short-term and would bring enormous benefits to the United States and its economy in the long run.

As Ukrinform previously reported, the United States is suspending sanctions for one month on the sale of Russian oil and petroleum products that were loaded onto ships before March 12.

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