US allows oil sales from Russia's Sakhalin-2 project through June 18

WASHINGTON, Dec 17 (Reuters) - The U.S. Treasury allowed oil sales from Russia's Sakhalin-2 project through June 18 next year, a move that likely allows production of liquefied natural gas from the project to continue.

The move is important for U.S. ally Japan, which gets about 9% of its LNG from Russia. The Treasury Department on Wednesday issued the general license for transactions with Sakhalin-2, a waiver to sanctions that had been imposed on the project by former President Joe Biden in 2022.