President Trump has waived new US sanctions on Russian oil and gas, a move analysts say will primarily benefit Moscow by reducing the discount on its crude.
01Summary
- 01Trump signed an executive order waiving sanctions on Russian diesel until April 2027, citing US 'national interest'.
- 02The blocked measures would have imposed up to 100% tariffs on imports from top buyers of Russian crude, including China and India.
- 03EU countries imported 817 million euros of Russian pipeline gas and 615 million euros of LNG in September, while criticising the US waiver.
- 04Analyst Vasily Astrov estimates that 60 cents of every extra dollar from higher-priced Russian oil will go to the Russian state.
- 05European leaders said they regret the US decision, but the EU continues to import large volumes of Russian gas.
02Why it matters
The waiver could keep global energy prices lower for consumers, but it also provides additional revenue to Russia for its war in Ukraine, undermining Western sanctions efforts.
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