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The United States will not renew waivers that permitted the purchase of Russian and Iranian oil and petroleum products currently at sea, Treasury Secretary Scott Bessent said in statements reported by multiple outlets on April 24 and 25, 2026. The decision, which affects oil that was loaded on tankers before March 11, is expected to have significant implications for global energy markets, already strained by the Russia-Ukraine war and the US-Iran conflict.

Coverage Comparison

The announcement was covered by several news organizations, including the Associated Press, TASS, and The Hindu. While the core fact — that the US will not renew the waivers — is consistent across reports, the framing and emphasis varied. The Jerusalem Post, citing the AP, highlighted the potential impact on "vulnerable and poor countries" and provided additional context on the waivers' origins. TASS, the Russian state agency, reported Bessent's comments in a straightforward manner, noting the technical detail that the waivers covered oil on the water prior to March 11. The Hindu also focused on the impact on Iranian oil production, mentioning the blockade.

Key Claims

  • No renewal of waivers: Secretary Bessent confirmed that the US will not renew the general licenses for Russian and Iranian oil at sea. According to TASS, he stated, "We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil." The Jerusalem Post reported Bessent told the Associated Press, "Not the Iranians," indicating a refusal to extend the Iranian waiver.
  • Scope of waivers: The waivers applied to oil that was on the water prior to March 11, as reported by TASS. Bessent noted, "All that has been used."
  • Reason for decision: Bessent cited the US blockade on Iran, saying, "We have the blockade, and there's no oil coming out." He predicted that Iran would have to "start shuttering production" within two to three days, which he said "will be very bad for their wells." This prediction was reported by both the Jerusalem Post and The Hindu.
  • Waiver origin: The Jerusalem Post, citing the AP, reported that the waivers were originally issued to ease the strain on global energy markets caused by the Russia-Ukraine war and the US-Iran war. The Russian waiver was issued in March 2026 and extended on April 18, while the Iranian waiver was issued after the US blockade of Iran took effect.
  • Impact on vulnerable countries: Bessent acknowledged the potential implications for "vulnerable and poor countries," according to the Jerusalem Post. He quoted such countries as asking, "Can you help?" but added, "I wouldn't imagine that we'd have another extension."

Perspectives

US Treasury Perspective

Secretary Bessent framed the decision as firm, emphasizing the blockade and the expectation that Iran would have to curtail production. His comments suggest a confidence that the oil at sea has been largely absorbed by the market, reducing the need for further waivers.

Russian Official Perspective (as reflected in TASS)

TASS's coverage was neutral, focusing on the factual announcement without commentary. This might reflect the Russian government's position of noting the decision without extensive analysis.

Market and Humanitarian Concerns

The Jerusalem Post and The Hindu highlighted the potential consequences of the decision, including effects on global energy markets and poorer nations. Bessent's own remarks indicate awareness of these concerns, even as he maintained the policy.

Conclusion

The US decision not to renew the waivers marks a tightening of sanctions on both Russian and Iranian oil exports. While the announcement was clear, the full impact on global markets and vulnerable countries remains to be seen, as analysts and policymakers monitor developments in the coming days.