US Extends 30-Day Suspension of Russian Oil Sanctions, Covering Over 100 Million Barrels in Transit
The Russian president’s special representative for investment and international economic cooperation has announced a 30-day extension of the suspension on sanctions related to the transit of Russian oil. This extension covers more than 100 million barrels of oil currently in transit.
Kirill Dmitriev, referring to this decision, said the renewed extension of the exemption, similar to the previous phase, will include over 100 million barrels of oil being moved. He also noted that some political factions had opposed this extension.
Meanwhile, the US Treasury Department’s Office of Foreign Assets Control has issued a new general license. Under this license, transactions related to the sale, delivery, and unloading of crude oil and petroleum products of Russian origin, loaded onto ships by April 17, 2026, are permitted.
Oil sanctions against Russia were imposed following recent geopolitical developments, and any changes to the scope or duration of these restrictions can impact the global energy market and the flow of oil along international routes.
