US Ends Sanctions Waivers for Russian, Iranian Oil
Washington– The U.S. will not prolong sanctions waivers permitting countries to buy Russian and Iranian power, Treasury Secretary Scott Bessent announced Wednesday. The initial waivers, implemented after a U.S.-Iran dispute caused power concerns, expire on April 19 th.
Key truths:
- Waivers originally granted in March, permitting acquisitions of oil already mixed-up.
- India was a major recipient, getting approximately 30 million barrels of Russian oil.
- The choice faced criticism from U.S. political leaders, that argued it economically benefited Moscow and Tehran and aided in the battle on Ukraine.
- The waivers will not be renewed.