U.S. to allow some Russian energy-related transactions until next May

FILE PHOTO: The logo of Russia’s largest lender Sberbank in Moscow, Russia, December 24, 2020. REUTERS/Maxim Shemetov/File Photo

WASHINGTON (Reuters) — The United States will allow some energy-related transactions with several Russian entities including Sberbank, VTB Bank and Alfa-Bank to continue through May 14, the Treasury Department said on Thursday.

Treasury said in a notice on its website that it was extending a general license that was set to expire next month. Russia’s central bank is also on the list of entities.

The move comes weeks before the Group of Seven’s Dec. 5 price cap on Russian oil is set to take effect.

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