The US government has not renewed the exemption that allows Russian banks to continue using US payment systems for transactions related to already concluded contracts in the Russian oil industry, Agence France-Presse reported, citing a statement from the US Department of Economy.
This means that Russian banks will not have access to the US payment system for large energy-related transactions, Ukrinform notes.
"The US Treasury Department confirms that the 8L general license expired at 00:01. on March 12," a ministry spokesman said.
Earlier yesterday, Treasury Secretary Scott Besant said his department was ready to tighten sanctions against Russia.
"This is part of President Trump's desire to create the necessary conditions for successful negotiations. He is ready to exert maximum pressure on both sides," the minister stressed.
This license allowed Russian banks, even those subject to sanctions, to continue using the US payment system for certain categories of energy-related transactions. It was granted by the administration of former President Joe Biden in the final days of his presidency.
The Russian Central Bank and RosBank are among the institutions that benefited from the exception under this regime, AFP reports.