U.S. extends Russian‑oil waiver
- The U.S. granted extensions to a sanctions waiver allowing some countries to keep buying Russian oil despite restrictions. (moneycontrol.com) - More than ten countries requested the waiver extension, U.S. Treasury secretary Scott Bessent said. (moneycontrol.com) - Officials framed the move as a practical concession when energy security tightens, showing sanctions regimes can be negotiable. (moneycontrol.com)
Washington extended a sanctions waiver that lets some countries keep buying Russian oil already loaded on ships through May 16. (ofac.treasury.gov; cnbc.com) The U.S. Treasury’s Office of Foreign Assets Control issued Russia-related General License 134B on April 17, 2026. It authorizes the delivery and sale of Russian crude and petroleum products loaded on vessels as of April 17, replacing a 30-day waiver that had expired on April 11. (ofac.treasury.gov; cnbc.com) Treasury Secretary Scott Bessent said on April 22 that finance ministers from about 10 countries asked for the extension during International Monetary Fund and World Bank meetings in Washington. He said the appeals came from countries most exposed to oil shortages. (moneycontrol.com; economictimes.indiatimes.com) The waiver covers cargoes already at sea, not a blanket reopening of Russian oil trade. CNBC reported that the license excludes transactions involving Iran, Cuba and North Korea. (ofac.treasury.gov; cnbc.com) The immediate pressure point was the oil shock tied to the Iran war and disruption around the Strait of Hormuz, a narrow shipping route that carries a large share of global crude. U.S. officials said the waiver was meant to keep barrels flowing to countries facing supply stress and rising prices. (cnbc.com; economictimes.indiatimes.com) The decision also marked a reversal. Two days before the renewal, Bessent had said Washington would not renew the Russian-oil waiver, according to CNBC and other reports. (cnbc.com; apnews.com) India was at the center of the discussion because it has become one of the biggest buyers of Russian crude since Moscow’s 2022 invasion of Ukraine redirected trade flows. CNBC reported that President Donald Trump discussed oil in a call with Prime Minister Narendra Modi as partner countries pressed for relief. (cnbc.com) Critics in Congress said the waiver softens pressure on Moscow while Russia’s war in Ukraine continues, and European Union officials urged Washington not to relax sanctions. Treasury’s response was that the license is a temporary market-stabilization measure, not a broader rewrite of Russia sanctions. (cnbc.com; apnews.com) For now, the policy gives importers another month to clear Russian cargoes already on the water while Washington tries to contain an energy crunch without formally lifting its sanctions regime. (ofac.treasury.gov; cnbc.com)
