US Treasury chief defends pivot to extend Russia oil sanctions relief

Posted 2 hours ago by

Al-Monitor

US Treasury Secretary Scott Bessent on Wednesday defended the Trump administration's recent about-face to temporarily extend a sanctions waiver that allowed the sale of Russian oil already at sea.The month-long relief announced last Friday was meant to cool soaring energy prices. But it came just two days after Bessent told reporters that Washington would not renew the waiver.The latest move allowed for purchases of oil and petroleum products that had been loaded onto vessels as of Friday, through 12:01 am (0401 GMT) on May 16.