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Story summary
- Treasury Secretary Scott Bessent said the administration will not renew the general licence for Russian oil on tankers.
- Senators Jeanne Shaheen and Elizabeth Warren urged rejecting the waiver, saying it funds Russia’s war and does not lower U.S. fuel prices.
- President Donald Trump backed pausing the 18.4-cent gasoline tax, noted $4.50 per-gallon prices, and said Trump discussed lifting sanctions on Chinese firms buying Iranian oil with President Xi Jinping.