U.S. sanctions on Russian oil have come back into effect

The U.S. Treasury Department cited a statement by Secretary Scott Bessent, who called the easing of sanctions against Russia a “narrowly targeted, short-term measure.” In March, it was announced that restrictions on Russian oil that had already been loaded onto ships as of March 12 would be lifted, Politico reports.

Sources in the U.S. Senate noted that the expiration of the exemption is hardly cause for celebration, as Russia continues to use numerous workarounds to sell its oil.

“Even before the license was issued, sanctioned Russian oil was reaching the market, as the Trump administration had not imposed any counter-sanctions against Russia—whether on oil sales or on critical purchases for the Kremlin’s military machine—for over a year,” said an anonymous aide to a Democratic senator.

Washington justified the easing of sanctions against Russia by citing the global rise in oil prices resulting from the U.S. and Israel’s war against Iran and Iran’s strikes on many Gulf countries, which effectively paralyzed oil exports from the region. Similar decisions were made regarding Venezuelan and Iranian oil.

Photo: eurofest.org.ua.