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The Ministry of Finance will extend sanctions on energy payments from Russia

WASHINGTON – The Treasury Department has widened the sanctions gap that allows U.S. financial institutions to process transactions related to Russian energy sales for nearly six months as the United States seeks to minimize further disruption to global energy markets.

The exemption from sanctions, which was set to expire on June 24, will remain in force until December 5, when the European Union ban on Russian oil imports will take effect. While the US has already banned the import of Russian energy, many energy sales abroad are denominated in dollars. The continuation of the “carve-out” will allow US financial institutions to process payments for Russian energy in other countries.

The Ministry of Finance will extend sanctions on energy payments from Russia

Source link The Ministry of Finance will extend sanctions on energy payments from Russia

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