U.S. extends waiver allowing some purchases of Russian oil through May 16
The Facts
- The U.S. Treasury Department renewed a waiver allowing countries to purchase some Russian oil and petroleum products already at sea.
- The renewed waiver allows purchases of Russian oil loaded on vessels as of Friday through May 16.
- The new waiver replaces or extends an earlier waiver that expired on April 11.
- The extension was issued two days after Treasury Secretary Scott Bessent said the waiver would not be renewed.
- Multiple reports say the administration linked the waiver extension to efforts to control or soften rising global energy prices amid disruption related to the Iran conflict.
- The waiver excludes transactions involving Iran, Cuba, and North Korea.
Context
What does the waiver allow?
It allows countries to purchase Russian oil and petroleum products that were already loaded onto vessels as of Friday, with the authorization running through May 16 KyivPost,Deutsche Welle,Yahoo! Finance.
Why is this extension notable?
It came only two days after Treasury Secretary Scott Bessent said the U.S. would not renew the waiver, so several outlets described it as a reversal of the administration's earlier position KyivPost,Daily Mail,NDTV.
Why did the administration extend it?
Reports say the extension was part of an effort to ease or stabilize global energy prices after the Iran-related conflict disrupted oil markets Spokesman Review,Deutsche Welle,NYT.
How left and right read it
The waiver renewal highlights how volatile global energy markets can quickly override a tougher sanctions posture. After Scott Bessent said the waiver would not be renewed, Treasury reversed course within two days and extended purchases of some Russian oil already at sea through May 16, citing pressure from disruption tied to the Iran conflict.
The extension suggests the administration is trying to prevent a broader energy shock while keeping the waiver narrowly limited. Treasury renewed purchases only for some Russian oil already loaded on vessels through May 16, excluded Iran, Cuba, and North Korea, and appears to have acted in response to rising global energy prices linked to the Iran conflict.
The receipts — all 125 sources
Wire services (11)
Independent coverage (50)
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