US Gives Green Signal to Russian Oil Shipments

The United States Treasury Department has extended the exemption related to sanctions on Russian crude oil shipments for another month. The relaxation applies to Russian oil cargoes that were already in transit through sea routes. Under the newly issued General License 134C, Russian oil shipments that were at sea before April 17 will now be permitted until June 17.

However, the US clarified that the exemption will not apply to transactions involving individuals or entities linked to Iran, North Korea, Cuba, or Russian-occupied regions of Ukraine. Analysts believe the move could have an impact on the global energy market and international oil trade.