White House Considers Extending Oil Transport Exemption

Middle Eastern outlets describe Washington as trying to balance sanctions on Russia and Iran with the need to keep oil flowing to global markets. They highlight that the White House and US Treasury are leaning toward extending sanctions relief after pressure from more than 10 importing countries. They expect further time-limited waivers that let buyers move Russian and Iranian crude while the US searches for other ways to curb Moscow’s and Tehran’s income.

• •US Treasury officials are preparing to extend sanctions relief on Russian and Iranian oil shipments to avoid supply shocks.
• •The White House is considering prolonging an oil transport exemption that lets tankers carry Russian crude under certain conditions.
• •More than 10 countries have warned US officials that ending the waivers would strain their energy security.
• •Janet Yellen has defended extending Russia oil sanctions relief as a practical response to allies’ concerns.
• •Middle Eastern energy importers expect Washington to keep some form of waiver in place while prices remain sensitive.