WASHINGTON – The United States will not be renewing the waivers that allowed purchase of some Iranian and Russian oil without facing US sanctions, Treasury Secretary Scott Bessent told reporters on April 15.
Reuters reported on April 14 that Washington would not renew a 30-day waiver of sanctions on Iranian oil at sea that expires this week, and let a similar waiver on sanctions on Russian oil expire over the weekend.
“We will not be renewing the general licence on Russian oil, and we will not be renewing the general licence on Iranian oil. That was oil that was on the water prior to March 11. So all that has been used,” Mr Bessent said, at a White House briefing.
The moves signal an end to the Trump administration’s efforts to use the sanctions waivers to free up more oil supplies and lower soaring global energy prices.
The Iranian waiver, which the Treasury Department issued on March 20, allowed some 140 million barrels of oil to reach global markets and helped relieve pressure on energy supply during the war, Mr Bessent said in March.
The waiver is set to expire on April 19.
