US extends sanctions waiver on Russian oil for 30 days

The US Department of the Treasury has decided to extend for another 30 days a waiver allowing the purchase of sanctioned Russian oil, Reuters writes, citing a source.

The decision applies only to oil transported by sea.

According to the agency’s source, the move came after several countries asked the United States for additional time to continue purchasing Russian oil amid an energy crisis caused by the war in the Middle East.

The US Department of the Treasury had previously introduced the sanctions waiver in order to prevent a shortage of oil on the global market and curb a sharp rise in energy prices.