According to US Treasury Secretary Scott Bessant, Donald Trump's team will not renew the executive orders that allowed the purchase of Russian and Iranian oil and petroleum products currently at sea.
Points of attention
- The decision marks a significant shift in US policy towards Russian and Iranian oil, impacting global oil supply and prices.
- With Iranian and Russian oil facing stricter sanctions, the oil market faces uncertainty and potential price fluctuations.
The US claims that Russia will not receive another exemption for its oil
According to the US Treasury Secretary, the issue of extending the one-time exemption for Iranian and Russian oil is not on the agenda at all.
As for the Iranians, there are no exceptions. We have a blockade in place and no oil is coming out. We believe that in the next two or three days they will have to start stopping production, which will be very bad for their wells.
Scott Bessent
US Treasury Secretary
The head of the department drew attention to the fact that Iranian oil is under blockade and is actually not entering the market.
What is important to understand is that on March 13, Donald Trump's team issued a permit to sell Russian oil, which at that time had already been loaded onto tankers at sea.
Thus, official Washington tried to stabilize prices, which at that time exceeded $100 per barrel.
As mentioned earlier, exceptions were introduced until April 11.
