US Lets Russian Oil Waiver Linked To Iran War Expire, Reimposing Sanctions

(Alex Raufoglu – RFE/RL) The Trump administration has allowed a controversial waiver on sanctions targeting Russian seaborne oil to expire, reimposing restrictions that had temporarily enabled countries such as India to continue purchasing Russian crude despite Western efforts to curb Moscow’s wartime revenues. The move, which took effect on May 16 after the Treasury Department declined to renew General License 134B, highlights the increasingly difficult balance Washington faces between tightening pressure on the Kremlin and preventing further disruption to global energy markets already rattled by the Iran conflict and instability around the Strait of Hormuz. The waiver, first introduced in March and extended in April, permitted transactions involving certain Russian oil cargoes that had already been loaded onto tankers before sanctions deadlines took effect. Administration officials defended the measure as a temporary safeguard aimed at preventing a deeper global energy shock as fighting in the Middle East pushed oil prices higher and threatened key shipping routes. Critics in Washington and Kyiv, however, argued the policy effectively handed Moscow a financial reprieve at a moment when the United States and its European allies were seeking to tighten economic pressure on Russia over its war against Ukraine. – US Lets Russian Oil Waiver Linked To Iran War Expire, Reimposing Sanctions