The Trump administration on Friday renewed a short-term waiver allowing the purchase of Russian oil and petroleum products at sea, extending the license for roughly one month.
The license, issued late Friday, allows countries to buy Russian oil loaded on vessels as of that day through May 16. The renewal restores a waiver that had lapsed on April 11 and specifically bars transactions involving Iran, Cuba and North Korea.
The decision came two days after Treasury Secretary Scott Bessent said he had no plans to prolong sanctions relief. Earlier in the week, Bessent had indicated the administration would not renew the waiver for Russian oil or a separate waiver covering Iranian oil, which was due to expire on Sunday.
Officials described the move as a temporary easing measure aimed at helping stabilize global energy prices, which spiked during the US-Israel conflict with Iran and later eased following a temporary ceasefire. Bessent has previously said a March 20 waiver for Iranian oil allowed about 140 million barrels to reach world markets and helped relieve supply pressures during the crisis.
The waivers have drawn criticism from US lawmakers who say they bolstered the economies of Iran and Russia while those countries were engaged in conflicts, and complicated relations with allies by undermining efforts to cut off Russian oil revenue used to fund the war in Ukraine. German politicians, including Robert Habeck and chancellor candidate Friedrich Merz, also criticized the relaxation of sanctions.
Editor: Sean Sinico