U.S. allows Russia oil sales waiver to expire despite tight market |
U.S. allows Russia oil sales waiver to expire despite tight market
The Trump administration allowed a waiver that encouraged more Russian crude sales to lapse, even as the Iran war stokes concerns about global oil supplies and higher fuel costs.
The expiration effectively ends for now a brief period where the administration eased sanctions on some Russian oil, enabling purchases that would otherwise be barred. The Trump administration issued an initial waiver in March and a second after the first expired in April — both applying only to a subset of Russian oil that had already been loaded onto tankers.
The waivers have been controversial, especially with European allies who see sanctions as essential to starving Russia of crude revenue and depriving Moscow funding for its war in Ukraine. Critics say the sanctions........