US license allowing seaborne sales of sanctioned Russian oil expires Photo

A temporary U.S. Treasury Department license permitting the maritime sale of sanctioned Russian oil has expired at 00:01 local time on May 16, raising uncertainty over whether Washington will renew the waiver.

The authorisation was issued by the Office of Foreign Assets Control (OFAC) on April 17, when it was extended for one month following the outbreak of the war involving Iran and the subsequent disruption of shipping routes in the Strait of Hormuz, Caliber.Az reports per Russian media. 

India reportedly requested that Washington prolong the license, citing concerns over energy market stability amid disruptions linked to the Iran conflict. At the same time, several Democratic senators have urged the administration of President Donald Trump not to renew the waiver, instead calling for tighter sanctions on Russia.

By Sabina Mammadli