Secretary of Treasury Scott Bessent announced Monday that the United States would be issuing a temporary waiver on the sale of Russian oil already on vessels at sea. File Photo by Shawn Thew./UPI | License Photo
May 19 (UPI) -- The Trump administration has issued temporary Russia sanctions relief for a third straight month, extending a waiver allowing the delivery and sale of Russian oil already loaded onto tankers at sea amid the ongoing energy crisis cause by the U.S. war with Iran.
Treasury Secretary Scott Bessent announced the 30-day reprieve on social media, saying it will "provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea."
"This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed. This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries," he said in a statement.
The United States has imposed thousands of sanctions on Russia since it invaded Ukraine in February 2022, in an effort to cut it off from a lucrative revenue source to fund its war.
