US extends sanctions exemption for energy payments to Russia / Photo: ATTILA KISBENEDEK - AFP/File
-
Airbus aims for record deliveries despite disappointing quarter
-
US Fed holds interest rates steady despite surging inflation
-
Real Madrid, La Liga apology over Mbappe shows power of Chinese market
-
US labor leader Dolores Huerta dead: family
-
'Cruise for life' strands passengers in Cambodia as operator goes bust
-
French firm Safran helps build aircraft wings of the future in UK factory
-
Canada hikes rates to contain oil price surge caused by Iran war
-
World Bank warns of worsening food insecurity as commodity prices soar
-
Nintendo producer 'all nervous' as Zelda classic remake hits shelves
-
Billionaire Ambani's Jio soars in market debut after India's biggest IPO
-
Three killed by storm in southern India
-
AI chip giant SK hynix posts seven-fold surge in quarterly operating profit
-
Two hundred 'Cruise for life' passengers stranded in Cambodia
-
S.African activists push back on data centre rush
-
Billionaire Ambani's Jio jumps 21% in market debut after record India IPO
-
Billionaire Ambani's Jio to debut after record India IPO
-
Sri Lanka's Tamil farmers fight to reclaim land after civil war
-
UK set for cautious budget as borrowing costs climb
-
'They don't care about us': Trump food aid cuts leave Americans struggling and angry
-
US Fed expected to hold rates steady ahead of key midterm elections
-
Palestinian activist Khalil returns to Columbia after US detention
-
AI chip giant SK hynix says quarterly operating profit soars 630%
-
Youths testify about 'despair' in unprecedented Canadian climate trial
-
GA-ASI and Saab Perform Advanced AEW Flight Testing on Uncrewed MQ-9B
-
Charles tackles thorny legacy of slavery on Caribbean trip
-
Storied Paris department store seeks bankruptcy protection
US extends sanctions exemption for energy payments to Russia
Washington said Tuesday it will continue to allow payments to Russia for energy products through December 5, to give European countries time to prepare for a near-total oil embargo in retaliation for Moscow's war on Ukraine.
The exemption from devastating US financial sanctions, which effectively severed Russia from most of the global financial system, was due to expire June 24.
The renewed carve-out will "align our regulations with the implementation timing of the European Union's ban on crude oil" from Russia, a Treasury spokesperson told AFP.
"This license will provide for an orderly transition to help our broad coalition of partners reduce their dependence on Russian energy as we work to restrict the Kremlin's revenue sources."
The 27-nation EU agreed in late May to a sixth package of sanctions that will halt the majority of imports of Russian oil, but exempted crude delivered by pipeline in a concession to hold-out Hungary.
The US had already banned Russian oil, but European nations are much more dependent on those imports.
Energy is a major source of income for Vladimir Putin's government, and Western nations are trying to isolate Moscow and impede the ability to continue the war.
H.Müller--CPN