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Sanctions back in force: US reinstates restrictions on russian oil

Main points
  • Sanctions on russian oil have been reinstated after a temporary relaxation that was in effect for the past month.
  • The exemption allowed the sale of oil loaded onto ships as of March 12, after which the restrictions were reinstated.
  • According to Scott Bessent, russia could only receive limited additional profits of about USD 2 billion.
Sanctions against russia. Photo: depositphotos. Collage: Ukrainifn News
Sanctions against russia. Photo: depositphotos. Collage: Ukrainifn News

The US has reinstated full sanctions on russian oil after the temporary relaxation that was in effect for the past month by the decision of the Donald Trump administration.

According to Politico, the exemption allowed the sale of oil that had already been loaded onto ships as of March 12. After this period, the restrictions automatically returned.

The US Department of the Treasury did not directly comment on the situation, but earlier the head of the department Scott Bessent emphasized that the relaxation was temporary.

"A narrowly focused short-term measure," he described the decision to partially lift sanctions.

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At the same time, the US Senate notes that the return of restrictions does not mean full control over the situation, as russia continues to find ways to circumvent sanctions.

"Even before the license was issued, russian oil under sanctions was entering the market... the Trump administration has not imposed any counter-sanctions for over a year," said an anonymous aide to a Democratic senator.

In Washington, the temporary easing of sanctions was explained by a global jump in oil prices caused by tensions in the Middle East, in particular the US-Israeli war against Iran.

According to Bessent, even with the easing of sanctions, russia could only receive limited additional profits - about USD 2 billion.

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Meanwhile, Trump says that the situation on the global oil market may stabilize in the near future, in particular due to the possible unblocking of the Strait of Hormuz.

Recall that russia failed to export oil through the Baltic despite the easing of US sanctions.

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