US Extends Russian Oil Sanctions Waiver Until May 16

The Trump administration has renewed a waiver allowing countries to purchase Russian oil and petroleum products at sea for approximately one month, extending the sanctions relief through May 16, 2026.

The decision, announced late Friday, comes despite earlier statements from Treasury Secretary Scott Bessent indicating no plans to extend the waiver. The waiver permits purchases of Russian oil loaded on vessels as of the announcement date through May 16, but explicitly excludes transactions involving Iran, Cuba, and North Korea.

The renewal follows pressure from several countries dealing with energy price shocks linked to the broader Middle East conflict, particularly those affected by disruptions in Iranian oil supplies. Administration officials cited the need to stabilize global energy markets amid ongoing geopolitical tensions.

The waiver had previously expired on April 11, 2026, and its extension marks another instance of the administration balancing sanctions enforcement with concerns over global fuel prices. Critics, including some U.S. Lawmakers, have argued that such measures undermine efforts to restrict Russia’s revenue for its war in Ukraine while benefiting sanctioned economies.