US renews Russian oil waiver after pressure from countries dealing with Iran war price shocks

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The Trump administration on Friday renewed a waiver allowing countries to buy sanctioned Russian oil and petroleum products already loaded on vessels at sea, extending the relief for about a month. The decision, issued by the US Treasury Department, permits purchases of oil loaded as of Friday through May 16, according to reports from multiple outlets including The Hindu, Dawn, and the Jerusalem Post.

The move reverses an earlier statement by Treasury Secretary Scott Bessent, who had said on Wednesday that Washington would not renew the waiver for Russian oil or a separate one for Iranian oil. The renewal comes amid sustained pressure on global energy prices following the US-Israeli war with Iran, which has disrupted shipping through the Strait of Hormuz and sent prices higher.

Coverage comparison

Most outlets framed the renewal as an effort to control energy prices. Dawn, Deutsche Welle, France 24, the Jerusalem Post, and The Hindu all reported that the waiver is part of the administration's push to manage energy costs that have risen sharply during the US-Israeli conflict with Iran. The BBC — World carried a more critical angle, highlighting Ukrainian President Volodymyr Zelensky's condemnation of the decision. Al Jazeera focused on Ukraine's success in reducing Russian oil profits despite the waiver.

Some differences emerged in reporting on the timeline. Several outlets noted that the waiver, which expired on April 11, was extended on Friday. The Jerusalem Post reported earlier that the US had "quietly let" the Russian oil waiver expire over the weekend, but later confirmed the renewal. Deutsche Welle also reported that the US decision to let waivers expire threatened India's crude supply, though the renewal would appear to mitigate that for the short term.

Key claims

The renewal allows countries to buy Russian oil and petroleum products loaded on vessels as of Friday through May 16, replacing a 30-day waiver that expired on April 11. The waiver excludes transactions involving Iran, Cuba, and North Korea, as reported by the Jerusalem Post and Deutsche Welle.

The move is part of the administration's effort to control global energy prices, which surged during the US-Israeli war with Iran. Iran's closure of the Strait of Hormuz has disrupted oil shipments, contributing to price increases. Several outlets reported that oil prices had recently fallen after Iran temporarily reopened the waterway, with prices tumbling about 9% to roughly $90 a barrel.

Asian countries, including India and the Philippines, have been lobbying the US Treasury Department to extend sanctions relief for Russian oil purchases, according to TASS, citing Bloomberg. The Indian delegation has also sought an extension for Iranian oil and expanded exemptions for Russian LNG. Philippine Ambassador Jose Manuel Romualdez described the efforts as a "work in progress."

Treasury Secretary Scott Bessent characterized the waivers as a "deliberate short-term measure," as reported by TASS.

Ukraine's President Volodymyr Zelensky condemned the US decision to extend the period during which Russia can sell oil despite sanctions, according to the BBC. In remarks on Sunday, he said "every dollar paid for Russian oil is money for the war" in Ukraine. He claimed Russia's "shadow fleet" of more than 110 tankers held over 12 million tons of oil, the sale of which would bring $10 billion to Moscow.

Al Jazeera reported that Ukraine has succeeded in depriving Russia of much of the windfall profits it would have made from oil exports in March and April, despite the waiver. Ukrainian strikes on Russian port and energy infrastructure reduced oil transhipments by 300,000 barrels a day in March, and refined products by 200,000 barrels a day, according to Ukraine's foreign intelligence service.

Deutsche Welle reported that India, the world's fourth-largest economy and third-biggest importer and consumer of oil, faces a potential tightening of crude supply if the waivers expire. The US decision not to renew waivers on Iranian and Russian oil threatens India's energy supply, the outlet noted.

US lawmakers from both parties have criticized the waivers, saying they help the economies of Iran and Russia while they are at war, as reported by the Jerusalem Post and Deutsche Welle. The waiver on Iranian oil, issued on March 20, allowed some 140 million barrels of oil to reach global markets, according to Bessent.

Perspectives

Ukraine: President Volodymyr Zelensky condemned the US decision, arguing that every dollar paid for Russian oil funds the war in Ukraine. He said Russia's shadow fleet could bring $10 billion to Moscow, funds that would be "directly converted into new strikes against Ukraine."

US Administration: The Treasury Department said it wanted "to ensure oil is available to those who need it" as negotiations with Iran accelerate. Treasury Secretary Scott Bessent described the waivers as a "deliberate short-term measure" aimed at easing energy supply pressures.

Asian countries: India and the Philippines have lobbied the US to extend sanctions relief, citing the impact of high global energy prices. Philippine Ambassador Jose Manuel Romualdez called the efforts a "work in progress."

US lawmakers: Critics from both parties have accused the administration of going easy on Moscow, saying the waivers help Russia's war effort and Iran's economy while it is at war with the US.