Rubio made the remarks while testifying before the Senate Foreign Relations Committee.
Sen. Jeanne Shaheen (D-NH) asked whether the United States intended to continue existing exemptions that permit certain operations involving Russian oil. Rubio said the Treasury Department will make the final decision, but that it will depend on circumstances at the time.
“We would like to end it as soon as we possibly can, because the underlying policy of this country has been to sanction their oil,” the secretary said.
“These are time limited waivers for the purpose of opening up more global supply.”
On March 12, the Treasury Department's Office of
Foreign Assets Control (OFAC) issued General License 134, allowing the delivery
and sale of Russian oil and petroleum products that were already loaded onto
vessels. On April 17, OFAC extended the exemption for maritime
deliveries of Russian oil. On May 18, the Treasury extended the
authorization for another 30 days.