Russian Oil Sanctions Waiver Extended

In a sudden policy reversal, the U.S. Treasury Department has authorized the continued delivery and sale of Russian oil loaded on vessels through May 16.

Treasury Secretary Scott Bessent had previously indicated the waiver would not be renewed, but intense pressure from allies facing energy shortages prompted the extension.

The decision has drawn sharp criticism from some lawmakers who view it as a betrayal of Ukraine and a sign of weakness toward Moscow.

The White House maintains the waiver is a necessary pragmatic step to prevent a catastrophic spike in domestic gasoline prices during the conflict in the Middle East.