US extends Russian oil sanctions waiver until May 16

The United States has authorized the delivery of Russian oil and petroleum products loaded onto vessels until April 17.

According to foreign media reports cited by Trend, the relevant license was issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (Office of Foreign Assets Control).

The authorization will remain in effect until May 16.

Previously, a similar license permitting the transportation of Russian oil loaded onto tankers had been valid from March 12 to April 11.

The move comes as Washington has eased sanctions on Russian oil amid a sharp rise in global energy prices. Oil and gas prices surged following the outbreak of war involving the United States and Israel against Iran.

One of the key factors behind the spike has been the disruption of energy shipments through the Strait of Hormuz, which Iran had temporarily closed to maritime traffic.