US Extends Waiver on Russian Oil Purchases

Donald Trump’s administration has renewed a waiver allowing countries to continue purchasing sanctioned Russian oil transported by sea for roughly one month. The measure, valid until 16 May, follows a previous 30-day extension and excludes Iran, Cuba and North Korea.

The decision comes despite criticism from lawmakers who argue that Washington has taken an overly lenient approach towards Moscow during the ongoing war in Ukraine. The waiver is part of broader US efforts to stabilise global energy prices, which have risen sharply amid the conflict involving the US, Israel and Iran.

Asian economies particularly affected by the energy shock have urged Washington to maintain access to alternative oil supplies. Although Treasury Secretary Scott Bessent had previously signalled that the waivers might not be extended, the administration ultimately opted to proceed.

The conflict has already damaged dozens of oil facilities and increased risks to the strategic Strait of Hormuz. Elevated energy prices are also seen as a political liability ahead of upcoming US elections.

Critics argue that the waivers indirectly support the economies of Russia and Iran. However, some experts warn that removing them could further destabilise global energy markets.

(reuters, lud)