Overview
- Treasury’s sanctions office extended a temporary general license on Friday that lets buyers complete sales of Russian oil already loaded on tankers through May 16.
- The extension contradicted Treasury Secretary Scott Bessent’s public pledge two days earlier that the administration would not renew the license.
- President Volodymyr Zelensky said more than 110 tankers from a shadow fleet carry over 12 million tonnes of Russian crude worth about $10 billion that can now be sold.
- Senate Democratic leaders called the move shameful, while U.S. Ambassador to the U.N. Mike Waltz said it was meant to ease price spikes and does not reward Russia.
- Analysts reported Russia’s oil income jumped to about $19 billion in March as higher prices and opaque tanker networks kept exports flowing despite existing curbs.