Sanctions Shift Amid Rising Fuel Costs
This decision arrives just two days after Treasury Secretary Scott Bessent stated that the United States would discontinue the exemption tied to Russian oil sales.
Fuel costs have surged dramatically since hostilities in the Middle East erupted in late February. Data from the American Automobile Association shows that the national average price for regular unleaded gasoline in the US jumped by more than 30%, exceeding $4 per gallon, while diesel climbed over 40%, crossing the $5 mark.
At the outset, the administration eased curbs on Russian crude shipments that had been left idle at sea when the conflict disrupted global energy markets. The intention was to reduce oil prices by permitting nations to lawfully acquire vast quantities of crude—amounting to hundreds of millions of barrels—that had previously been blacklisted by the US, according to the The New York Times report.
With the conflict now entering its second month and fuel prices in the US still on an upward trajectory, the original waiver on Russian oil—set to expire on April 11—has been extended and will now remain in effect until May 16.
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