The Trump administration on Friday renewed a waiver allowing the purchase of Russian oil and petroleum products at sea for about a month.
The license, issued late Friday, permits countries to buy Russian oil loaded on vessels as of that day through May 16. The renewal reinstates a waiver that had expired on April 11 and specifically excludes transactions involving Iran, Cuba and North Korea.
The move came two days after Treasury Secretary Scott Bessent said he had no plans to extend the sanctions relief. On Wednesday, Bessent had indicated the US would not renew the waiver for Russian oil or a separate waiver for Iranian oil, which was set to expire on Sunday.
Officials described the decision as an easing measure to help control global energy prices that surged during the US-Israel war with Iran; prices have since fallen after the start of a temporary ceasefire. Bessent previously said a March 20 waiver for Iranian oil allowed about 140 million barrels to reach global markets and eased supply pressures during the conflict.
The waivers drew criticism from US lawmakers who argued they aided the economies of Iran and Russia while those countries were at war, and they have complicated relations with allies by undermining efforts to deprive Russia of oil revenue needed for its war on Ukraine. Germany’s Robert Habeck and Chancellor candidate Friedrich Merz have criticized the easing of sanctions.
Edited by: Sean Sinico