US Secretary of State Marco Rubio has expressed a desire for Washington to terminate exemptions from oil sanctions against Russia in the near future. The final decision will rest with the US Department of the Treasury.
Rubio made these remarks during a Senate Foreign Relations Committee hearing on June 2, responding to a question from Democratic Senator Jeanne Shaheen regarding the continuation of the US exemption on Russian oil sanctions.
“We would like to end this as soon as possible, as the primary policy of this country is sanctions on Russian oil. These are temporary exemptions aimed at expanding global supplies,” Rubio stated.
He noted that the situation would depend on various circumstances, emphasizing that the Treasury Department would make the ultimate decision.
Context on Sanction Easing
On February 28, Israel and the US initiated a joint operation against Iran, aimed at addressing perceived threats from the Iranian regime. Former President Donald Trump accused the Iranian authorities of funding and training Hamas in Palestine, as well as militants in Syria, Lebanon, and Iraq.
This military action significantly restricted shipping in the Strait of Hormuz, a critical route for approximately 20% of global oil and liquefied natural gas supplies, leading to a sharp increase in oil prices.
On March 9, Trump announced that the US would lift some oil-related sanctions to help lower energy prices. Subsequently, on March 12, the US issued a 30-day license for the purchase of Russian oil and petroleum products that were stranded at sea.
German Chancellor Friedrich Merz criticized the temporary lifting of sanctions as sending an “incorrect” signal, while EU High Representative Kaja Kallas described the situation as a “dangerous precedent.” On April 18, the US extended the easing of sanctions against Russian oil for an additional month.
Ukrainian Ambassador to the US Olga Stefanishina reported that Ukraine has urged the American administration to reinstate restrictions. Ukrainian President Volodymyr Zelensky stated that Russia’s multibillion-dollar profits from oil sales are being “directly converted” into new strikes on Ukraine. US Energy Secretary Chris Wright characterized the easing of sanctions as a “pragmatic decision.” On May 18, US Treasury Secretary Scott Bessent announced a second extension of the easing of sanctions on Russian oil.
US Secretary of State Marco Rubio has indicated a push to end exemptions from oil sanctions on Russia, with the Treasury Department set to make the final decision. The discussion comes amid ongoing geopolitical tensions and previous sanctions adjustments related to energy prices.