22.04.2026 23:21
U.S. Treasury Secretary Scott Bessent announced that sanction exemptions for petroleum products shipped by sea from Iran and Russia have been extended by 30 days, in response to requests from countries facing the risk of oil shortages due to disruptions in maritime traffic in the Strait of Hormuz.
The U.S. Department of the Treasury announced that sanction exemptions for petroleum products shipped by sea from Iran and Russia have been extended for 30 days. U.S. Treasury Secretary Scott Bessent, in a statement at the budget session of the U.S. Senate Appropriations Subcommittee, stated that the decision was made in response to requests from countries facing a risk of oil shortage due to recent developments in the Middle East disrupting maritime traffic in the Strait of Hormuz.
REQUESTS CAME FROM 10 COUNTRIES
Bessent indicated that the requests came from finance officials of approximately 10 countries during the International Monetary Fund (IMF) and World Bank meetings held last week.
Secretary Bessent also denied allegations that the Tehran administration had earned over $14 billion in revenue from the sanction exemptions but did not provide any details regarding the situation.
THEY HAD STATED THEY WERE NOT CONSIDERING ADDITIONAL EXEMPTIONS
This development occurred following statements that the U.S. was not considering implementing additional sanction exemptions. On April 15, at a press conference held at the White House, the U.S. Treasury Secretary was asked a question regarding whether they were considering additional sanction exemptions to supply more oil to the market. In response, Bessent said, "We will not renew the general license for Russian oil. We will not renew the general license for Iranian oil either. That was related to oil that was at sea before March 11. So, all of those have been used."