US to end Russia, Iran oil export licenses, Treasury chief confirms

The United States does not intend to extend the validity of licenses for oil exports from Russia and Iran, US Treasury Secretary Scott Bessent said during a briefing at the White House.

“We will not be renewing the general license on Russian oil and we will not be renewing the general license on Iranian oil,” he stressed.

Bessent noted that the licenses applied to oil that had already been loaded onto tankers in early March. According to him, all of that oil has already been sold.

By Jeyhun Aghazada