According to Bloomberg, many Asian countries, including India and the Philippines, are lobbying the US Treasury Department to extend the sanctions immunity mechanism for Russian oil purchases, which is expected to expire on April 11.
Sources said that pressure from Asia is facing opposition from US European allies. Meanwhile, the Indian delegation in Washington not only proposed extending immunity from Russian oil but also wanted to extend the exception to Russian liquefied natural gas (LNG), as well as extend easing with Iranian oil.
Philippine Ambassador to the United States, Jose Manuel Romualdez, said that the extension efforts are still in the process of negotiation and there is no final result yet.
The pressure move takes place in the context of global oil prices rising by more than 30% since the outbreak of war between the US, Israel and Iran, along with the risk of supply disruption due to the blockade of the Hormuz Strait - the world's key energy transportation route.
US Treasury Secretary Scott Bessent previously described these immunity mechanisms as just "intentional short-term measures", showing that Washington is not ready to make long-term commitments.
However, according to another source quoted by Semafor, the US administration may consider extending the exemption this week.
Observers believe that Asia's pressure on the US to ease sanctions on Russian oil reflects increasing pressure on energy security, and also shows the difference in interests between regions in approaching global oil supplies.
