U.S. waives Russian oil sanctions

The general license allows for the delivery of Russian oil that was loaded onto tankers prior to Friday, preventing a sudden supply shock.

Officials stated the move is necessary to stabilize global markets as the Strait of Hormuz remains restricted.

The policy reversal has drawn criticism from those who argue it weakens the economic pressure on Moscow.

However, the administration maintains that protecting American consumers from soaring fuel prices is the current priority.