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US Restores Sanctions on Russian Oil?

US restores sanctions on Russian oil? License expires May 16. India requests extension.

Robert Moore
ByRobert Moore- Senior Editor
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The license granted by the US for the supply of Russian oil expires on May 16.

This was reported by Oxu.Az citing RIA Novosti.

On April 17, the US Treasury issued a second authorization for transactions involving Russian oil and petroleum products on tankers at sea, dated April 17.

The document was valid until May 16, 00:01 local time. Prior to this, Russian oil had been exempt from sanctions in March.

On May 14, Bloomberg reported, citing sources, that India had appealed to the US to extend the license for the sale of Russian oil, which expires on May 16.

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