Azernews.Az

Ulviyya Poladova

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U.S. Treasury Secretary Scott Bessent has announced a 30-day extension of sanctions waivers on maritime shipments of oil products from Iran and Russia, AzerNEWS reports.

According to Bessent, the decision was made in response to requests from several countries facing rising risks of fuel shortages due to recent instability affecting shipping traffic in the region. He said the appeals were made by finance officials from around ten countries during recent meetings of the International Monetary Fund (IMF) and World Bank.

The waivers temporarily allow certain maritime oil deliveries from Iran and Russia despite ongoing U.S. sanctions targeting both countries’ energy exports.

Bessent rejected claims that Iran had generated more than $14 billion in revenue from such exemptions, although he did not provide further details.

On April 15, during a White House briefing, Bessent said the administration would not renew general licenses for Russian or Iranian oil shipments, noting that existing exemptions applied only to cargo already at sea before March 11.

The Strait of Hormuz, a critical maritime chokepoint through which a significant portion of the world’s oil supply is transported, has reportedly experienced increased disruptions in recent weeks.

Photo: Reuters