US extends sanctions waiver on Russian oil sales at sea
Summary
The Trump administration has extended a one-month waiver allowing the sale of Russian oil and petroleum products already loaded onto ships at sea. This decision aims to ease rising global energy prices following disruptions caused by the conflict involving Iran and the closure of the Strait of Hormuz.Key Facts
- The waiver allows sales of Russian oil loaded on vessels as of April 18 until May 16, 2026.
- The waiver extends an earlier sanctions easing that expired on April 11.
- Treasury Secretary Scott Bessent had announced just two days earlier that the waiver would not be renewed.
- The move comes amid global energy price spikes caused by the US-Israeli war against Iran.
- Iran retaliated to the conflict by closing the Strait of Hormuz, a key oil shipping route.
- Rising oil prices have increased gasoline costs in the US, affecting households before midterm elections.
- The waiver may complicate efforts to cut off Russian oil revenue used in its war against Ukraine.
- International leaders stress that Russia should not benefit from the situation in Iran and emphasize the importance of protecting Ukraine.
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