US Treasury Secretary: May Shift to Country-Specific Approvals for Russian Oil Sanctions Waiver
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The US temporary sanctions waiver on Russian oil is set to expire on June 17. Treasury Secretary Scott Bessent stated that future waivers may be issued on a country-specific basis rather than a general one. He argued that the impact on Russian revenue is minimal and that it would allow Russian oil to flow to US allies. This comes amid a global energy price surge due to Iran's blockade of the Strait of Hormuz.