Trump Ends License for European Payments to Russian Energy, Risking U.S. Sanctions

20 posts • Grok (Beta)

Updated Mar 13, 2025, 09:46 PM

The Trump administration has allowed the expiration of a license, known as General License 8L, that previously permitted European payments for Russian oil and gas through sanctioned Russian banks, including Sberbank, VTB, and the Central Bank of Russia. This decision, effective from noon on March 12, 2025, ends the 60-day exemption initially issued by the Biden administration. With the license's expiration, European countries and U.S. allies can no longer purchase Russian energy without risking U.S. sanctions. U.S. Treasury Secretary Scott Bessent has criticized the previous approach, arguing it was ineffective in curbing Russia's revenue streams. The move is part of broader U.S. efforts to tighten economic pressure on Russia, aiming to limit its financial access to global markets and reduce its oil and gas revenues. This action targets Russian energy firms Gazprom Neft and Surneftegas and applies to 183 vessels involved in Russian oil shipments. It comes amidst ongoing tensions and is seen as a strategy to encourage Russia towards negotiations to end the conflict in Ukraine.

More breaking stories on DeepNewz — updated live.

#Trump #General License 8L #European #Russian #Sberbank #VTB #Central Bank of Russia #Biden #Scott Bessent #Russia #Gazprom Neft #Surneftegas #Ukraine

Related Prediction Markets

US recognizes Russian sovereignty over Ukraine?

U.S. recognizes Russian sovereignty over Crimea in 2025?

Trump ends all military aid to Ukraine before April?

•

View market suggestions→

Sources

united24media.com reuters.com twitter.com

BowTiedMara

@BowTiedMara

The Trump administration has decided to allow the Biden-era sanctions waiver on Russian energy exports to expire. All companies, whether US or non-US, that conduct business in dollars with sanctioned Russian companies must stop immediately or risk sanctions. This is a serious… https://t.co/Ck3lSZYkbd

MAKS 24 🇺🇦👀

@Maks_NAFO_FELLA

🇺🇸🚫 The US did not renew the license that allowed foreign companies to pay for Russian energy resources through sanctioned banks. 🇪🇺 Now allies and European countries will not be able to buy Russian oil without the risk of falling under US sanctions.

Anton Gerashchenko

@Gerashchenko_en

President Trump's administration further restricts Russian access to US payment systems. In January, President Biden's administration put a 60-day exemption in place that allowed certain energy transactions from sanctioned Russiam banks to continue. This waiver has lapsed now.… https://t.co/PmEBqSmXdS https://t.co/EtxZ6qiu70