U.S. Treasury Secretary Bessent says Russian oil waiver was request of most vulnerable states

WASHINGTON. April 22 (Interfax) - The authorities of the United States extended on April 18 the sanctions waiver allowing purchases of Russian oil loaded on vessels due to requests of over ten countries, which are most affected by the current situation surrounding energy supplies, U.S. Secretary of the Treasury Scott Bessent said on Wednesday.

According to Western media outlets, Bessent said at hearings at the U.S. House Committee on Appropriations that after being "approached by more than 10 of the most vulnerable and poorest countries," which are affected by the situation surrounding the closure of the Strait of Hormuz, the U.S. issued a general license waiving U.S. restrictions on purchases of Russian oil loaded on tankers before April 17.

Financial chiefs of these countries made relevant requests on the sidelines of the meetings of the International Monetary Fund and the World Bank, Bessent said.

Answering senators' questions, he said that the claims that Iran received revenues of over $14 billion due to the decision on the mitigation of sanctions targeting the country, among others, are a "myth." He emphasized that he "couldn't disagree more" that the mitigations were counterproductive. This step prevented the oil prices from spiking, and without adjustments they "could have spiked to $150" per barrel, Bessent said.

Bessent also maintained that the cost of energy sources would return to its previous level or go lower after the end of the crisis surrounding Iran. He said it is possible that the gasoline prices in the U.S. could also drop below the level prior to the start of the hostilities.

Last week, Bessent said that Washington would not issue such licenses for Russian oil again.

However, on April 18, the U.S. Department of the Treasury issued the general license waiving U.S. restrictions on purchases of Russian oil loaded on vessels by April 17.

The U.S. Department of the Treasury said on its website that this license would be in effect until May 16, 2026.