The USA has decided to extend the partial easing of sanctions on Russian and Iranian oil amid ongoing disruptions in the Strait of Hormuz, Treasury Secretary Scott Bessent announced during a Senate committee hearing.
The easing period has been extended by 30 days and will apply to oil already loaded onto tankers at sea, Bessent said.
The Treasury secretary explained that the extension came in response to requests from several countries facing energy shortages due to the closure of the Strait of Hormuz. Approximately ten countries submitted such requests to US representatives during recent IMF and World Bank meetings.
Bessent had previously assured that the sanctions easing would not be extended.
