Trump lets Biden-era Russia sanctions waiver lapse, according to media reports
The US Treasury has decided against extending a waiver from sanctions imposed on Russia during President Joe Biden’s administration. .
TroibNews 
The exemption was part of the rollout of stringent measures targeting the Russian oil trade.
The US Treasury allowed a 60-day waiver for energy-related financial transactions with sanctioned Russian banks to expire on Wednesday, as reported by multiple news outlets citing officials.
Originally issued by President Joe Biden's administration on January 10, General License No. 8L provided 12 major Russian financial institutions, including the country's central bank, with limited access to US payment infrastructure.
The grace period was intended to facilitate the clearance of outstanding transactions while the outgoing government imposed stricter sanctions on the Russian oil trade. Reports indicate that the escalation of these sanctions was coordinated with Donald Trump’s transition team prior to his inauguration, with the goal of enhancing his negotiating stance with Moscow.
Upon assuming office, Trump began discussions aimed at normalizing relations with Russia. However, he has indicated that he may impose further sanctions if Moscow does not make concessions regarding the conflict in Ukraine.
The Trump administration “remains focused on ending the fighting and fostering negotiations to resolve the war,” stated a Treasury spokesperson in an email quoted by Reuters on Friday. “We continue to implement our sanctions, which remain one of the levers to facilitate these goals.”
This week, Trump suggested a 30-day ceasefire between Ukraine and Russia, following pressure on Kiev to reconsider its previous position that no truce could occur without Western security guarantees. Russian President Vladimir Putin has shown support for such an initiative, provided Ukraine does not use the pause to rearm and regroup before resuming hostilities.
Allen M Lee contributed to this report for TROIB News
The US Treasury allowed a 60-day waiver for energy-related financial transactions with sanctioned Russian banks to expire on Wednesday, as reported by multiple news outlets citing officials.
Originally issued by President Joe Biden's administration on January 10, General License No. 8L provided 12 major Russian financial institutions, including the country's central bank, with limited access to US payment infrastructure.
The grace period was intended to facilitate the clearance of outstanding transactions while the outgoing government imposed stricter sanctions on the Russian oil trade. Reports indicate that the escalation of these sanctions was coordinated with Donald Trump’s transition team prior to his inauguration, with the goal of enhancing his negotiating stance with Moscow.
Upon assuming office, Trump began discussions aimed at normalizing relations with Russia. However, he has indicated that he may impose further sanctions if Moscow does not make concessions regarding the conflict in Ukraine.
The Trump administration “remains focused on ending the fighting and fostering negotiations to resolve the war,” stated a Treasury spokesperson in an email quoted by Reuters on Friday. “We continue to implement our sanctions, which remain one of the levers to facilitate these goals.”
This week, Trump suggested a 30-day ceasefire between Ukraine and Russia, following pressure on Kiev to reconsider its previous position that no truce could occur without Western security guarantees. Russian President Vladimir Putin has shown support for such an initiative, provided Ukraine does not use the pause to rearm and regroup before resuming hostilities.
Allen M Lee contributed to this report for TROIB News
