Treasury Secretary Bessent Extends Russian Oil Sanctions Waiver Despite Previous No-Renewal Promise

United States Treasury Secretary Scott Bessent faced backlash this week after the Treasury quietly extended a one-month waiver on Russian oil sanctions, despite his recent public assurance it would not happen. DW News reports that the extension, valid through May 16th via general license 134B from the Office of Foreign Assets Control, applies only to oil already at sea and aims to prevent supply disruptions amid global tensions. Just days earlier, on April 16th, Bessent told reporters, "We will not be renewing the general license on Russian oil," a stance that shifted sharply as oil markets reacted to the Iran conflict and Strait of Hormuz issues.

Energy analyst Robin Mills called Russia the big winner from Americas war against Iran, noting the waiver blunts sanctions pressure. Former State Department advisor Benjamin Schmitt criticized it as a measure he would oppose, urging quick revocation to reinforce the framework. Firstpost coverage highlights the move eases rising global oil prices but marks a reversal from Bessents no more waivers pledge, amid ally demands for energy relief.

The decision comes as Middle East skirmishes persist, with Wall Street Journal reports of renewed action keeping the Strait of Hormuz under strain. This waiver follows initial pauses tied to oil loaded before March 11th, now extended quietly via the Treasury website.

In a separate April 19th Cashflow Chronicles stream, market discussions touched on energy volatility from the Iran situation, boosting interest in liquefied natural gas projects like Next Decade and Venture Global, though Bessent was not directly featured.

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