emirates7 - The Trump administration has not extended the sanctions waiver that facilitated increased sales of Russian oil.
The waiver expired at 12:01 a.m. Eastern Daylight Time on May 16, and the US Treasury Department has not issued an extension, according to the Office of Foreign Assets Control (OFAC) website.
U.S. Treasury Secretary Scott Bessent had previously said there were no plans to renew the authorization.
The temporary license, first renewed on April 17, had allowed countries to continue purchasing Russian oil cargoes stranded at sea despite broader US sanctions.
US President Donald Trump previously said sanctions on Russian oil exports temporarily eased due to global energy market pressures will be reinstated once the crisis in the Middle East ends, saying the move was aimed at keeping global oil supplies stable.
The waiver expired at 12:01 a.m. Eastern Daylight Time on May 16, and the US Treasury Department has not issued an extension, according to the Office of Foreign Assets Control (OFAC) website.
U.S. Treasury Secretary Scott Bessent had previously said there were no plans to renew the authorization.
The temporary license, first renewed on April 17, had allowed countries to continue purchasing Russian oil cargoes stranded at sea despite broader US sanctions.
US President Donald Trump previously said sanctions on Russian oil exports temporarily eased due to global energy market pressures will be reinstated once the crisis in the Middle East ends, saying the move was aimed at keeping global oil supplies stable.
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