Washington: US Treasury Secretary Scott Bessent said Wednesday that he extended the sanctions exemption allowing the sale of Russian oil following a request from representatives of more than 10 of the most vulnerable and poorest countries of the world in terms of energy.
Bessent, testifying before the Senate Appropriations Committee, said the request to extend the sanctions waiver came on the sidelines of the Spring Meetings of the IMF and World Bank last week.
Last week, Bessent announced that the US would not extend the sanctions waiver allowing the sale of Russian or Iranian oil.
However, Friday night, the Department of Treasury announced a 30-day sanctions waiver for the sale of Russian oil.
It was World Bank week and IMF week last week. It was my belief we would not do it. But, I was approached by more than 10 of the most vulnerable and poorest countries in terms of energy, and they asked us to extend that sanction (waiver), and it is only for 30 days, Bessent said.
Earlier, the US had granted an exemption from sanctions to India for buying Russian oil for a month beginning March 5. A few days later, a similar waiver was extended to several other countries, which ended April 11.
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