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Wilfredo R. Rodriguez H.
The choice was reached after multiple nations asked the US for more time to acquire Russian oil, the source noted.
The earlier license from the US Treasury, which permitted oil dealings with Russia, lapsed on May 16. Until that time, the US had allowed transactions related to the sale, transportation, and unloading of Russian oil and petroleum products that were loaded onto tankers before April 17.
The related general license was released on April 17 on the US Treasury's Office of Foreign Assets Control (OFAC) website. The document indicated that the authorization is not valid for transactions involving Iran, Cuba, and North Korea. The license from April 17 substituted the earlier license that was granted on March 19 and lapsed on April 11.
In mid-March, the US initially suspended sanctions on Russian oil to stabilize the energy market. During that period, activities related to Russian oil and petroleum products loaded onto ships prior to March 12 were allowed until April 11. Donald Trump cautioned that the limitations would be brought back after the oil market crisis ended.
source: reuters.com
The earlier license from the US Treasury, which permitted oil dealings with Russia, lapsed on May 16. Until that time, the US had allowed transactions related to the sale, transportation, and unloading of Russian oil and petroleum products that were loaded onto tankers before April 17.
The related general license was released on April 17 on the US Treasury's Office of Foreign Assets Control (OFAC) website. The document indicated that the authorization is not valid for transactions involving Iran, Cuba, and North Korea. The license from April 17 substituted the earlier license that was granted on March 19 and lapsed on April 11.
In mid-March, the US initially suspended sanctions on Russian oil to stabilize the energy market. During that period, activities related to Russian oil and petroleum products loaded onto ships prior to March 12 were allowed until April 11. Donald Trump cautioned that the limitations would be brought back after the oil market crisis ended.
source: reuters.com
