According to Reuters insiders, US President Donald Trump's team intends to extend the exemption, which allows countries to purchase some of the sanctioned Russian oil and petroleum products.
Points of attention
- The extension of the exemption could have broader implications for global oil markets and geopolitical dynamics.
- The ongoing conflicts and tensions in key oil-producing regions further underscore the significance of Trump's decision regarding Russian oil.
What is known about Trump's plans for Russian oil?
Journalists draw attention to the fact that since mid-March, the US Treasury Department has been allowing the purchase of Russian oil and petroleum products that are already at sea.
What is important to understand is that this is happening within the 30-day exception that expires on April 11.
According to anonymous sources, US Treasury Secretary Scott Bessant has already met with Trump in the Oval Office on this matter.
The focus of their attention was precisely the extension of the exemption for Russian oil — the US President and the Treasury Secretary decided that this was really worth doing.
Oil prices rose sharply after the start of the war with Iran due to the partial closure of the Strait of Hormuz, through which about 20% of the world's oil and gas supplies passed daily before the conflict.
As economists note, the rapid rise in fuel prices is a serious problem for the US president and the entire Republican Party, especially on the eve of the midterm elections in November.
