Bessent Extends Iran, Russia Oil Relief After Appeals

EwsMax ^ | 04/22/2026 | Staff

[thegagline]

U.S. ‌Treasury Secretary Scott Bessent said Wednesday that he extended sanctions relief on Russian and Iranian ‌seaborne oil ​for 30 days because of requests from countries ⁠that are the ​most vulnerable to oil shortages from ⁠the closed Strait of Hormuz.

Bessent told a U.S. Senate ‌Appropriations subcommittee budget hearing ​that the ‌requests came from finance ‌leaders of about 10 countries during last week's International Monetary Fund ⁠and World ‌Bank meetings.

The action reversed his ⁠earlier comments ⁠last week that he would ‌not renew expiring sanctions waivers. Bessent said estimates that Iran has ‌gained ​more ‌than $14 billion from the relief are "a myth," but ​he did not provide an alternate figure.

[thegagline]

The sanctions are again lifted on Iranian oil, most of which is heading to our enemy, Communist China. China receives the oil at a discount. And Iran receives money for the oil from China through China’s Cross-Border Inter-Bank Payment System, among other places, which operates outside of SWIFT. Petro-dollars are replaced with Petro Yuan. A blockade, built upon waivers, is theater.

As an aside, during WWII, we never lifted sanctions on oil going to Germany or Japan. Nor did we lift sanctions on German or Japanese weapons exports. Because that would be counterintuitive and just plain stupid.

[InsidiousMongo]

Usually when something like this happens during negotiations, a serious concession was made.

[MotorCityBuck]

Excellent.

[MotorCityBuck]

Your “Short Bus” propaganda never disappoints when it works against my country.
Catch up with your nonsense tomorrow Sparky.😉
You Betcha.

[jimwatx]

It had to be done to keep the world economy from crashing. Trump is just bluffing about bombing Iran into oblivion because Iran would then take out ALL of our Gulf allies oil and gas infrastructure desalinization plants ect. That’s Iran’s ‘Sampson Option’ and they basically have us by the balls and they know it. That infrastructure won’t be rebuilt for many years and basically that ends the petrodollar. Trump is looking for an exit ramp to end this but Iran ain’t making it easy as they know they hold all of the cards.

[TBP]

Bad idea.

[thegagline]

It had to be done to keep the world economy from crashing.

The vast majority of Iranian oil goes to China which, unlike the United States, is filling up its strategic oil reserves. It is estimated that China's strategic reserves contains about 1.6 billion barrels of oil. By allowing Iranian oil to be sold at below market rates, the United States is enriching China, Iran, and protecting China's strategic reserves.

We are only helping our enemies- one of whom we are at war with and are performatively blockading.

[Mustangman]

Iran does not hold all the cards. What planet are you living on? The blockade is more effective than military action at this point. This much I will agree with. Imagine how much further along we’d be in this endeavor if the Euros and the Dems helped.

[Steven Tyler]

...Iranian ‌seaborne oil...

Iran has zero tankers to fill from Karghe island.
Russian loaded tankers and put them out to sea.
Russian is re-loading as many tankers as possible, reaping a windfall, and filling the production gap

[wildcard_redneck]

So you want a hot war with China while we are already fighting Iran? In WW2 Japan attacked America because the US embargo on oil was hurting them badly. You are the type of genius that would channel Hitler and start a two front war.

[BroJoeK]

jimwatx: "Trump is just bluffing about bombing Iran into oblivion because Iran would then take out ALL of our Gulf allies oil and gas infrastructure desalinization plants ect.
That’s Iran’s ‘Sampson Option’ and they basically have us by the balls and they know it.
That infrastructure won’t be rebuilt for many years and basically that ends the petrodollar.
Trump is looking for an exit ramp to end this but Iran ain’t making it easy as they know they hold all of the cards."

What??!
What are you smoking, or snorting or shooting??
That is pure unadulterated Iranian propaganda, straight from the horse's *ss, and unconnected to any reality.

In reality, Iranians have no capabilities they did not already use from February 28 through April 8.
Sure, their propaganda, as always, is at "Bagdad Bob" levels of fantasy, but in reality, they've got nothing.

For sure, Pres. Trump hopes for some sort of peace deal, but the things he fears most are not Iranian missiles, mullahs or IRGC, but Democrats in Congress & media working to defeat Republican majorities and using the Iran war as leverage against MAGA supporters.

Don't be drinking Iranian or Democrat propaganda koolaid, FRiend.

[TexasGator]

Ukraine’s drone strikes have reduced Russian oil exports at Baltic ports by 53% as of the end of March

https://energyandcleanair.org/march-2026-monthly-analysis-of-russian-fossil-fuel-exports-and-sanctions/

[Steven Tyler]

before or after President trump lifted sanctions on Russia oil.

This is too easy

[TexasGator]

Since you are Canadian I will forgive you for not being able to make a coherent statement.

[Steven Tyler]

Must be tough trying to make sense of life with a low IQ