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Treasury to Extend Sanctions Carve-Out for Russian Energy Payments

WASHINGTON—The Treasury Department prolonged a sanctions carve-out permitting U.S. monetary establishments to course of transactions associated to Russian vitality gross sales for practically six months because the U.S. seeks to decrease additional disruption in international vitality markets.

The sanctions exemption, which had been set to expire on June 24, will stay in place till Dec. 5, when the European Union’s ban on imports of Russian oil is ready to go into place. While the U.S. has already banned the import of Russian energy, many vitality gross sales overseas are denominated in {dollars}. The continuation of the carve-out will permit U.S. monetary establishments to course of funds for Russian vitality in different nations.