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US-SANCTIONS-EXEMPTION: US grants another month's exemption on Russian oil purchases

  US-SANCTIONS-EXEMPTION: The US has extended the exemption from sanctions on the purchase of Russian petroleum products for another month. This decision comes a few days after Washington had indicated that it would not extend this special concession. According to the latest orders issued by the US Department of Treasury late on Friday night, the purchase of Russian oil that has left by sea on or before April 17 will remain exempt from sanctions until May 16.

It is worth noting that on Wednesday, US Treasury Secretary Scott Besant had made it clear that Washington will not renew the exemption on Russian and Iranian oil. But in view of the skyrocketing oil prices in the international market and the deteriorating supply chain situation, the US has had to take its steps back. Earlier, India was given this special exemption for one month from March 5, after which other countries were also included in it.

This exemption is only for oil that was loaded on ships by April 17, 2026.
This relief will be in effect until May 16.

The ban on transactions with any person or entity associated with Iran, North Korea, Cuba or the occupied parts of Ukraine will remain in place.
Experts believe that oil prices have increased significantly due to the war situation between the US and Iran. In such a situation, allowing about 140 million barrels of Russian oil to enter the market is an attempt to maintain the global economy.
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