The United States Treasury has said it'll be extending a general license that was set to expire next month. This allows some energy-related transactions with several Russian entities including Sberbank, VTB Bank, Alfa-Bank and Russia's central bank to continue through to May 14, 2023.

The comes just weeks before the Group of Seven's December 5 price cap on Russian oil is set to take effect:

Oil update:

oil russia price cap