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Trump's method of keeping the international market price of oil down.
At least that's my interpretation.
US Treasury extends sanction waiver on Russian seaborne oil to aid vulnerable countries (Reuters)
PARIS, May 18 (Reuters) - The U.S. Treasury will extend a sanctions waiver allowing purchases of Russian seaborne oil for another 30 days to aid "energy-vulnerable" countries cut off from Gulf oil supplies, Treasury Secretary Scott Bessent said on Monday.
Bessent said the Treasury was issuing the 30-day general license after a previous waiver lapsed on Saturday. This will allow temporary access to Russian oil and petroleum products stranded on tankers without violating severe U.S. sanctions on Russian oil majors.
A source familiar with the decision had told Reuters that the second waiver extension was requested by poor and vulnerable countries that cannot get Gulf oil shipments due to the U.S.-Israeli war with Iran and the closure of the Strait of Hormuz.
"This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed," Bessent said in a social media posting on X. "This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries."
Bessent said the measure would help reroute existing supply to countries most in need, allowing them to compete with China for previously sanctioned oil.
...
Bessent said the Treasury was issuing the 30-day general license after a previous waiver lapsed on Saturday. This will allow temporary access to Russian oil and petroleum products stranded on tankers without violating severe U.S. sanctions on Russian oil majors.
A source familiar with the decision had told Reuters that the second waiver extension was requested by poor and vulnerable countries that cannot get Gulf oil shipments due to the U.S.-Israeli war with Iran and the closure of the Strait of Hormuz.
"This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed," Bessent said in a social media posting on X. "This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries."
Bessent said the measure would help reroute existing supply to countries most in need, allowing them to compete with China for previously sanctioned oil.
...