US extends pause on Russian oil sanctions into June – POLITICO

PARIS — Treasury Secretary Scott Bessent has said he will extend a temporary pause of U.S. sanctions on Russian oil exports until mid-June.

The decision deals a major blow to Kyiv and to the European Commission, which has urged Washington to resume sanctions to squeeze President Vladimir Putin’s war chest more than four years into his war on Ukraine.

Bessent announced a 30-day extension of the sanctions waiver during a meeting of G7 finance ministers in Paris on Monday, three officials told POLITICO. Although the U.S. imports almost no oil from Russia, the move would ease pressure on major buyers such as China and India at a time of scarce supply.