U.S. rules out renewal of exemption from sanctions on Russian, Iranian oil

WThe United States on Wednesday (April 15, 2026) ruled out granting any further exemption from sanctions for the purchase of Russian or Iranian oil.

U.S. Treasury Scott Bessent made the announcement at a press conference at the White House.

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“We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11, so all that has been used,” Mr. Bessent told reporters in Washington.

On March 5, the U.S. issued a 30-day sanctions waiver to India, permitting it to buy Russian oil despite sanctions imposed over the Ukraine war.