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

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.

(Reporting by Costas Pitas and Daphne Psaledakis; Editing by Eric Beech)