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U.S. Renews Russian Oil Waiver After Pressure From Countries Dealing with Iran War Price Shocks
The waiver runs through May 16 as Washington faces pressure to steady energy markets and ease price spikes tied to the Iran conflict.
- Treasury Secretary Scott Bessent announced on Friday Washington will not renew waivers for Russian and Iranian oil when they expire on Sunday, following intense criticism from lawmakers.
- Previous waivers authorized by the Treasury Department allowed 140 million barrels of Iranian oil to reach global markets, while a separate Russian oil waiver freed 100 million barrels to relieve supply pressure.
- On Friday, global oil prices dropped 9% to about $90 a barrel after Iran temporarily reopened the Strait of Hormuz, while the eight-week war has damaged more than 80 oil facilities in the Middle East.
- Lawmakers from both political parties criticized the administration, arguing the waivers support Iranian and Russian economies; partner countries requested extensions during Group of 20 meetings in Washington this week.
- Sanctions expert Brett Erickson of Obsidian Risk Advisors suggested Friday's renewal might not be the final waiver, noting "the conflict has done lasting damage to global energy markets, and the tools available to stabilize them are nearly exhausted.
97 Articles
97 Articles
US Extends Waiver On Russian Oil Sanctions Amid Iran War Negotiations, Days After Scott Bessent's Denial
The U.S. Treasury has extended a suspension of sanctions on Russian oil shipments for 30 days to address oil shortages linked to the Iran war, despite earlier statements from officials.
Trump Greenlights Russian Oil to Ease Strain on Global Markets After War with Iran
US Treasury Secretary Scott Bessent in Washington, DC, US, March 27, 2026. Photo: REUTERS/Jonathan Ernst i24 News – The Trump administration has authorized a 30-day emergency waiver allowing the maritime purchase of Russian oil, reversing a hardline stance in an effort to stabilize skyrocketing global energy prices. The Treasury Department announced Friday that the license for crude and petroleum products will remain in effect until May 16, 2026…
InsideNoVA.com
US extends sanctions waiver on purchases of Russian oil
US President Donald Trump's administration on Friday issued a month-long sanctions waiver allowing the sale of Russian oil and petroleum products that are at sea, extending an earlier move to soften surging energy prices.
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