The United States has extended until May 16 a license allowing the sale of Russian oil and petroleum products that have already been loaded onto tankers. The previous US easing of restrictions on Russian oil exports was introduced on March 13 amid rising energy prices caused by the war in Iran, and it was valid for 30 days — until April 11. At that time, US Treasury Secretary Scott Bessent called it a “narrowly targeted and short-term” measure that should not significantly affect Moscow’s oil revenues.

Meanwhile, The New York Times reported on April 13 that after the easing of US sanctions, Russia was receiving more than $100 million in additional daily revenue from oil sales. According to the International Energy Agency, Russia’s oil revenues in March nearly doubled compared to February due to the conflict in the Middle East and amounted to $19 billion.