US extends sanctions waiver on Russian oil to aid vulnerable countries

Washington [US], May 19: US Treasury Secretary Scott Bessent on Monday announced another 30-day extension of a sanctions waiver allowing purchases of Russian seaborne oil to aid "energy-vulnerable" countries, Reuters reported.
Bessent said in a posting on X that the Treasury was issuing the 30-day general licence 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.
Source: Emirates News Agency