OfficialDiplomacy & politicsBackgroundWashington, D.C., United States
U.S. renews 30-day waiver for Russian oil at sea two days after letting it lapse
- Mountain Time
- Local time
- 12:29 PM in New York
- Where
- Washington, D.C., United States
Treasury Secretary Scott Bessent said a new 30-day general licence would let the most vulnerable nations buy Russian oil stranded at sea, after the earlier waiver introduced to ease the Hormuz supply shock expired on May 16 without renewal. He said it would also reduce China's ability to stockpile discounted oil.
Why it matters
India had raised Russian crude purchases to about 2.3 million barrels a day under the exemption, so its lapse had raised fears of tighter supply.
Sources (3)
- CBS Newscbsnews.comPublished
- Al Jazeeraaljazeera.comPublished
- Al Jazeera (2)aljazeera.comPublished
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