US Grants Third Exemption for Russian Oil at Sea, Irritating Allies

El Watan views the U.S. Treasury's decision to grant a third 30-day exemption for Russian oil cargoes at sea with a critical eye, highlighting the contradiction with Secretary Scott Bessent's prior public statements. This move, ostensibly to stabilize markets and aid vulnerable nations, is seen as undermining the effectiveness of sanctions against Russia, a key concern for European allies who consider sanctions a vital tool to cripple Moscow's war effort in Ukraine.

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The U.S. Treasury has extended by thirty days the exemption granted to Russian oil cargoes currently at sea, citing market stabilization and the protection of the most vulnerable countries.

The article points out that this repeated extension of exemptions, despite Bessent's earlier assurances, erodes the credibility of the U.S. administration on this issue. While the U.S. cites humanitarian and market stability reasons, the report notes that Democratic senators previously estimated that such exemptions, coupled with rising oil prices due to Middle East tensions, were netting Russia approximately $150 million per day. This financial windfall, the article implies, directly fuels Moscow's war machine.

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The objective stated: to offer "the most vulnerable countries temporary access to Russian oil currently blocked at sea" and "stabilize the physical crude market."

From El Watan's perspective, the ongoing conflict in the Middle East has inadvertently become an economic and political boon for Russia. Increased energy prices and demand for its exports have bolstered Moscow's revenues, allowing it to capitalize on global energy market disruptions. The European allies' irritation is palpable, as they perceive each U.S. exemption as a weakening of the collective pressure on Russia, jeopardizing the strategy to deprive Moscow of the resources needed for its continued aggression in Ukraine.

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Bessent contradicts himself within days. The decision contrasts with the public statements of the minister himself. Last April 25, Bessent unequivocally stated that Washington did not intend to renew the exemption concerning Russian oil and petroleum products at sea.