U.S. Strikes New Blow To Russian And Iranian Oil

There will be no exemption from sanctions.

Washington will not renew temporary permits that allowed it to buy some volumes of sub-sanctioned oil from Russia and Iran, U.S. Treasury Secretary Scott Bessent told reporters.

"We will not renew the general license for Russian oil and we will not renew the general license for Iranian oil. We were talking about the oil that was on ships at sea as of March 11. That volume has already been utilized," Bessent said at a White House briefing. The exemption for Russian oil expires this weekend and for Iranian oil on April 19.

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