US extends sanctions waiver on Russian oil as supply crunch pushes up Brent crude price

Democratic senators called extension ‘indefensible gift’ to Vladimir Putin as supply concerns keep Brent oil above $110 per barrelThe US has announced another 30-day extension of a sanctions waiver allowing purchases of Russian seaborne oil to aid “energy-vulnerable” countries hit by the Iran war, reversing plans not to grant an extension.Treasury secretary Scott Bessent said the Treasury was issuing the 30-day general license after a previous waiver lapsed on Saturday. This will allow temporary access to Russian oil and petroleum products stranded on tankers without violating severe US sanctions on Russian oil majors, he said. Continue reading...