US defends temporary waiver on Russian oil sanctions

Representatives of US President Donald Trump’s administration defended the decision to temporarily lift some sanctions on Russian oil, saying the move could ease pressure on the global oil market and help stabilise energy prices during the ongoing conflict with Iran.

Energy Secretary Chris Wright and US Ambassador to the United Nations Mike Waltz said in television interviews that the exemption allowing India to purchase Russian oil was issued for 30 days. According to Waltz, the measure should allow millions of barrels of oil currently on ships to reach Indian refineries.

Wright said the step could ease concerns about potential oil shortages and help stabilise market prices. The administration also expects that the rise in petrol prices caused by the conflict will be temporary.

According to data from the AAA motorist organisation, the average price of petrol in the United States reached $3.32 per gallon on Friday, which is 11 per cent higher than a week earlier and the highest level since September 2024. The price of diesel rose to $4.33 per gallon, 15 per cent higher than a week earlier.

Trump has previously said petrol prices should fall rapidly once the conflict ends.

(reuters, max)