The situation in the global energy market continues with unexpected turns. The US administration has decided to extend the current exemptions introduced for the trade of Russian oil and petroleum products. Zamin.uz analyzes the reasons and consequences of this decision based on data from international publications.
License period extended until May 16
According to Reuters, Washington decided to extend the permit for selling Russian raw materials loaded onto tankers until May 16 . Interestingly, US Treasury Secretary Scott Bessent had previously strictly emphasized that such privileges would not be granted again. However, it seems the market situation has forced the White House to reconsider its position.
Oil prices and the Iran factor
As a reminder, the first reliefs for Russian oil were granted on March 13 of this year. This was caused by a sharp increase in energy carrier prices resulting from armed conflicts in the Middle East, particularly in Iran. At that time, Bessent called this measure a "temporary and narrow-scope action," stating that Moscow would not benefit significantly from it.
Billions of dollars in profit: IEA and NYT analysis
However, the figures show a different picture. According to The New York Times, as a result of the easing of sanctions, Russia is earning more than $100 million USD extra per day from oil trade.
Data from the International Energy Agency (IEA) is even more surprising:
- February: Revenues were lower.
- March: Income from oil exports nearly doubled, reaching $19 billion USD.
The "shadow fleet" and the Trump administration's plan
The Donald Trump administration aimed to balance (lower) global oil prices by easing sanctions. However, the expected result was not achieved. The main reason cited is Russia's "shadow fleet." The fact that a large portion of Russian oil is transported in special tankers, bypassing international restrictions, prevents the official price mechanism in the market from working.
Dear readers, do you think this US decision will help lower gasoline and fuel prices on the global market? Or is it simply a temporary political maneuver?
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