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US Secretary of State Marco Rubio said Washington would like to phase out exemptions to sanctions on Russian oil in the near future, UATV English reports.
Speaking before the United States Senate Committee on Foreign Relations, Rubio was asked by Senator Jeanne Shaheen whether the United States would continue a waiver allowing certain transactions involving Russian oil.
Rubio noted that the final decision rests with the United States Department of the Treasury but indicated that the administration’s preference is to end the exemptions.
“We would like to end this as soon as possible because the fundamental policy of this country is sanctions on Russian oil. These are temporary exemptions designed to increase global supply,” Rubio said.
In May, the United States temporarily extended sanctions relief covering Russian oil already stranded at sea in tanker shipments, citing concerns over global energy supplies and price volatility.
The exemptions were first introduced in March as part of efforts to ease pressure on world oil markets after disruptions linked to tensions around the Strait of Hormuz.
Earlier, Valdis Dombrovskis criticized the US decision to continue the waiver, arguing that it weakens pressure on Russia’s energy revenues.
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