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The US Treasury has decided to extend its sanctions waiver on Russian seaborne oil, which lapsed on Saturday, after several countries asked for more time to buy Russian oil, Reuters reports citing a source familiar with the plan.
The waiver will last another 30 days, the source says.
The United States issued the waiver in a bid to ease oil supply shortages and high prices due to Iran’s closure of the Strait of Hormuz amid a US-Israeli offensive, but the move has done little to calm US gasoline prices.
