U.S. sanctions on Russian oil are back on after the U.S. administration let a waiver expire this weekend, Politico reported.
The U.S. didn't renew a 30-day waiver of sanctions on Iranian oil at sea that expires this week, and quietly let a similar waiver on sanctions on Russian oil expire over the weekend, as the U.S. imposes a blockade on shipments from Iranian ports.
The waiver, which the Treasury Department issued on March 20, allowed some 140 million barrels of oil to reach global markets and helped relieve pressure on energy supply during the war on Iran. The waiver is set to expire on April 19.
