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Africa

US extends sanctions waiver on Russian oil through 17 June

The US Treasury extended its waiver on sanctioned Russian oil through 17 June, Al Jazeera reports. The decision is intended to keep large buyers such as India and China supplied while preventing oil prices from spiking further during the Iran war.

Large oil tanker ship at sea on a clear day
Photo: Zifeng Xiong / Pexels
Al Jazeera1 d agoBZ=F CL=F

The US Treasury has extended its waiver on sanctioned Russian oil through 17 June, Al Jazeera reports. The decision is being read as a balancing measure: keeping large buyers such as India and China supplied while preventing oil prices from spiking further during the Iran war.

Washington took the step to offset the additional supply gap caused by shipping disruptions in the Strait of Hormuz. White House officials stress that the waiver does not directly finance Russia's war revenues and only protects the use of intermediary infrastructure by third-country buyers and refiners.

The move risks reopening sanctions-alignment friction between the US and its European and British allies. Brussels is pressing ahead with plans to tighten its own Russian-energy measures, which could leave European refiners with narrower commercial room than their US peers. Brent crude saw a limited dip after the announcement before steadying.

This article is an AI-curated summary of the original story published by Al Jazeera. The illustration is a stock photo by Zifeng Xiong from Pexels and is not from the original story.

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