Key insights
- The US decision to end the waiver on Russian oil purchases may have a slight negative impact on US equities. While Russia claims to have minimized the impact of sanctions, reduced oil supply could lead to higher energy prices, potentially contributing to inflation and weighing on consumer spending. The impact is limited due to Russia's adaptation to sanctions.
Investing.com -- Russia said Thursday it has learned to minimize the impact of sanctions, following U.S. Treasury Secretary Scott Bessent’s announcement that Washington will not renew a waiver permitting purchases of Russian oil without facing U.S. sanctions.
The U.S. Treasury Department had permitted purchases of Russian oil and products at sea since mid-March through a 30-day waiver that expired on April 11. The waiver was part of efforts to control global energy prices during the U.S.-Israeli war with Iran.
Bessent said Wednesday the waiver would not be renewed.
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