President Donald Trump's administration is likely to extend as soon as Friday a waiver allowing countries to buy some sanctioned Russian oil and petroleum products, two sources familiar with the matter told
President Donald Trump's administration is likely to extend as soon as Friday a waiver allowing countries to buy some sanctioned Russian oil and petroleum products, two sources familiar with the matter told Reuters.
The U.S. Treasury Department has allowed purchases of Russian oil and products at sea since mid-March through the 30-day waiver that expires on April 11, part of efforts to control global energy prices during the U.S.-Israeli war on Iran.
Russia's presidential envoy Kirill Dmitriev had said the move would free 100 million barrels of Russian crude, equal to almost a day's worth of global output.
Treasury Secretary Scott Bessent met with Trump in the Oval Office on Thursday to talk about extending the waiver, and they agreed it was a good idea, one of the sources said, asking not to be named.
Officials at the White House and Treasury Department did not immediately comment.
Oil prices have spiked since the Iran war due to the partial closure of the Strait of Hormuz, through which about 20% of the world's oil and gas was shipped daily before the conflict.
Surging fuel prices are a major concern for Trump and his Republican party leading into November midterm elections.
The
Content Original Link:
" target="_blank">
