U.S. Issues One-Month Waiver on Russian Oil Sanctions as Energy Markets Face Pressure

AP

Oil field.

The United States administration of President Donald Trump has issued a one-month sanctions waiver allowing the sale of Russian oil and petroleum products already at sea, in a move aimed at easing pressure on global energy prices.

The licence, issued by the U.S. Treasury Department, comes just two days after U.S. Treasury Secretary Scott Bessent said Washington would not renew the waiver.

The latest decision permits the purchase and transport of oil and petroleum products loaded onto vessels as of Friday, extending through 12:01 a.m. (0401 GMT) on 16 May. It prolongs an earlier exemption that expired on 11 April.

However, on Wednesday, U.S. Treasury Secretary Scott Bessent had stated that the United States would not extend exemptions for either Russian or Iranian oil.

The temporary easing comes amid global supply disruptions linked to the U.S.-Israeli war against Iran. Tehran responded by effectively restricting access through the Strait of Hormuz, a key global energy shipping route.

Oil prices have since risen sharply, placing pressure on economies dependent on imported energy, while U.S. gasoline prices have also increased, adding domestic political pressure ahead of upcoming midterm elections.

Sources: FRANCE 24 with AFP



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