U.S. grants oil waiver
- The U.S. granted a waiver allowing some countries to purchase Russian oil despite sanctions. - Treasury Secretary Scott Bessent said the exemptions followed requests from more than ten countries at the spring meetings. - Observers note such carve-outs show sanctions regimes can be softened by practical energy needs, increasing chances of future exemptions (moneycontrol.com).
The U.S. Treasury on April 17 issued a 30‑day waiver allowing the delivery and sale of Russian crude and petroleum products already loaded on vessels, through May 16, 2026. (ofac.treasury.gov) The Office of Foreign Assets Control published Russia‑related General License 134B authorizing transactions for cargoes loaded on or before 12:01 a.m. EDT on April 17 and effective through 12:01 a.m. EDT on May 16, 2026. (sanctions.com) Treasury Secretary Scott Bessent told lawmakers the extension followed requests from representatives of “more than 10” energy‑vulnerable countries raised at last week’s IMF‑World Bank Spring Meetings. (moneycontrol.com) The Treasury framed the move as an emergency step to calm global energy markets hit by the Iran war and related supply disruptions. (cnbc.com) Senate Democrats including Chuck Schumer, Elizabeth Warren and Jeanne Shaheen called the decision a “shameful,” “180‑degree reversal” that weakens pressure on Russia. (banking.senate.gov) Reuters and other reports say Asian buyers including India, South Korea and Japan pressed Washington for the extension as they faced near‑term shortages and stranded cargoes. (kelo.com) The license permits ancillary services — bunkering, insurance, piloting and repairs — for voyages authorized under GL‑134B, but it does not authorize transactions involving persons or entities in Iran, North Korea, Cuba or certain occupied Ukrainian regions. (sanctions.com) GL‑134B replaces and supersedes the earlier month‑long authorization (GL‑134A) that had expired in April, continuing a temporary wind‑down mechanism the Treasury has used since March. (sanctionsnews.bakermckenzie.com) The waiver runs through 12:01 a.m. EDT on May 16, 2026; Treasury officials, importers and U.S. lawmakers say they will watch flows and prices before any further extensions. (ofac.treasury.gov)
