The United States Department of the Treasury has extended for another 30 days a sanctions waiver allowing countries to continue purchasing Russian seaborne oil, citing ongoing disruptions in global energy markets caused by tensions in the Middle East.
The temporary general license is now valid until June 17.
The move marks the second time Washington has allowed the waiver to briefly expire before quickly reinstating it.
US Treasury Secretary Scott Bessent said the measure is intended to help vulnerable nations maintain temporary access to Russian oil shipments currently stranded at sea.
“The extension will provide additional flexibility, and we will work with those countries to issue specific licenses if necessary,” Bessent wrote on X.
The decision has drawn criticism from some members of Congress and US allies, who argue the waiver indirectly benefits the Kremlin financially. However, several Asian governments reportedly pushed Washington to extend the exemption amid growing domestic fuel concerns.
According to Bloomberg, India had pressured the US to continue the waiver in order to replace disrupted Middle Eastern oil supplies with Russian crude.
Global energy markets remain volatile as shipping through the Strait of Hormuz continues to face major disruptions. Before the closure earlier this year, roughly one-fifth of the world’s oil and gas supplies passed through the strategic waterway.
The price of Russia’s Urals crude reportedly climbed to around $120 per barrel in early April.
Before the conflict involving Iran escalated, Russian oil had been trading at significant discounts due to US sanctions imposed following the full-scale invasion of Ukraine.