The US Treasury has extended permission for energy transactions with Russian banks
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The US Treasury has extended a general license that allows for energy transactions with sanctioned Russian banks. should from a document published on the ministry’s website.
The permit will be valid until May 1, 2024. The license was last extended in May 2023 until November.
The document clarifies that “energy transactions” mean the extraction, production, refining, liquefaction, gasification, conversion, enrichment, production, transportation or purchase of oil. The permit also covers condensate, liquefied natural gas, petroleum products or other products capable of producing energy, such as coal, wood or agricultural products used to produce biofuels, as well as uranium in any form.
Russian banks came under US sanctions after the start of Russia’s special operation in Ukraine in February 2022. Transactions with it are prohibited in accordance with US Presidential Decree 14024, which implies the blocking of property and a ban on any transactions in American jurisdiction.
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