US won't extend lifting of sanctions on Russian oil

The United States will not extend the temporary sanctions waiver for Russian oil, US Treasury Secretary Scott Bessent announced. He also ruled out the Treasury Department issuing a new general license that would temporarily allow the sale of Iranian oil loaded onto tankers.

Earlier, Bloomberg reported that several Asian countries, including India and the Philippines, are pressuring Washington to extend the easing of sanctions on Russian oil. Experts warn that a US attempt to simultaneously remove Russian and Iranian oil from the market will inevitably lead to price destabilization.