US issues temporary authorization for Russian oil exports on tankers

The United States Department of the Treasury announced a general license permitting the sale of Russian crude oil and petroleum products stored on tankers. The authorization applies to shipments loaded before April 17 and remains valid until May 16. This measure serves as a temporary exception to existing sanctions imposed following the 2022 Russian invasion of Ukraine. Meanwhile, U.S. Treasury Secretary Scott Bessent stated on Wednesday that Washington does not intend to renew or extend the temporary suspension of sanctions on Russian oil stored at sea beyond this period. This decision reflects the U.S. government's ongoing policy to restrict energy revenues for both Russia and Iran. Similar temporary authorizations were granted in March to mitigate oil price volatility caused by regional conflicts. Similar restrictions have also been applied to Iranian oil shipments due to concerns regarding Tehran's nuclear program and regional security.