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The U.S. Department of the Treasury announced that the Trump administration may grant future targeted exemptions from the sanctions imposed on Russian oil, on a country-by-country basis rather than a general exemption. The goal is to reduce supply shortages and contain the increase in global energy prices caused by market disruptions following the Iran war and tensions in the Strait of Hormuz. Washington has previously extended temporary exemptions for Russian and Iranian oil shipments in an effort to regulate the oil market, while doubts continue about the impact of these measures on Moscow's financing of its military operations in Ukraine.
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