US Waives Russian Oil Sanctions Amid Price Surge, Drawing Allied Criticism
The U.S. issued a 30-day waiver for Russian oil purchases to stabilize markets, drawing criticism from European allies but approval from Moscow.
Atlas Newsdesk ·
The United States has issued a 30-day waiver allowing the purchase of sanctioned Russian oil and petroleum products stranded at sea. This decision aims to stabilize global energy markets, according to the U.
S. Treasury.
Germany and other European allies, including Norway and France, have criticized the U. S.
action, arguing against easing sanctions on Russia. They maintain that the current issue is price, not quantity, and that the move undermines efforts to limit Russian revenue.
Russia has welcomed the U. S.
waiver, stating that it aligns with their interest in stabilizing global energy markets. The waiver applies to oil loaded on vessels on or before March 12 and is valid until April 11.
This action follows a period of increased global oil prices and comes after discussions between U.S. and Russian officials. The UK has stated it will not be loosening its sanctions on Russia.