Washington, April 18 (UNI) The US Treasury Department on Friday issued a temporary waiver allowing the delivery and sale of Russian crude oil and petroleum products already loaded onto vessels as of April 17, in a move aimed at easing global energy pressures.
The waiver, valid through May 16, ensures that oil currently at sea can reach international buyers while maintaining keeping the overall sanctions pressure on Russia intact.
"As negotiations accelerate, Treasury wants to ensure oil is available to those who need it," a Treasury spokesperson said, emphasizing the measure is driven by market stabilization rather than a shift in broader sanctions policy.
The decision comes just days after Treasury Secretary Scott Bessent indicated the administration would not extend the general license for Russian oil.
Sources familiar with the matter said that several partner nations, facing mounting energy costs in Asia amid the Iran war, pressed Washington to extend the waiver during discussions at the Group of 20, World Bank, and International Monetary Fund meetings.
The announcement come sin addition to the drop in oil prices following comments from the Iranian foreign minister that the Strait of Hormuz would remain open to commercial traffic during a ceasefire.
Brent crude, the global benchmark, plunged 9.07%, closing at $90.38 per barrel—its lowest level since March 10.
US lawmakers are scrutinising the waiver as tey warn it risks undercutting Western sanctions on Russia as its war in Ukraine continues, potentially enabling Moscow to sustain revenue flows while the conflict rages.
European officials have echoed the caution, with European Commission President Ursula von der Leyen asserting that now is "not the time" to relax sanctions.
For Russia, the waiver is a diplomatic and economic win, with Kremlin officials touting it as proof of continued US-Russian energy cooperation. UNI AAB