Besent: The United States may implement country-specific exemptions for Russian oil

On June 5, U.S. Treasury Secretary Basent said that in the future, exemptions allowing countries to purchase oil from Russia may be granted on a country-by-country basis rather than on a one-size-fits-all basis. "I strongly tend to believe that if there are further exemptions, it will be country-specific rather than generalizations," Besent said in testimony before the House Ways and Means Committee on Thursday. The additional revenue Russia receives as a result of these exemptions is negligible."