US lets Russian oil waiver expireRussian oil waiver expire, reimposing sanctions
The Trump administration let a waiver expire on Saturday that had allowed some countries to buy Russian seaborne oil despite sanctions. The move follows pressure from Democrats and comes after oil-market strains tied to Iran’s closure of the Strait of Hormuz.
It matters because the decision could tighten energy markets while also reducing a revenue source for Russia’s war in Ukraine.
Trump Administration
The administration allowed the waiver to lapse after a temporary extension that had been used to ease oil supply shortages and high prices. In this view, the step restores pressure on Moscow while leaving markets to adjust.
Democratic Senators
Jeanne Shaheen and Elizabeth Warren urged the White House not to renew the waiver. They argued it was sending money to Russia for its war in Ukraine without lowering fuel costs for Americans.
Market Analysts
Analysts see the decision as part of a wider scramble by Treasury to balance sanctions enforcement with energy stability. They say the policy reflects how quickly sanctions can shift when oil prices and supply fears rise.
- India is one of the world’s biggest oil importers and has often bought discounted Russian crude.
- The Strait of Hormuz is only about 33 kilometers wide at its narrowest point.
- Sanctions often work through shipping insurance, banking access, and port rules, not just direct trade bans.
Russia-Ukraine War
Russia and Ukraine are locked in an retaliatory long-range drone and missile war that now strikes deep into both countries, including Moscow, St. Petersburg, Crimea, and major Ukrainian cities like Kyiv and Dnipro. Ukrainian forces launched one of their largest drone attacks on June 26, striking 12 Russian regions and hitting key energy targets, while Russia continues massive retaliatory bombardments that kill civilians and destroy infrastructure.
26 June, 09:41 AM
Ukraine unleashes massive drone bombardment on 12 Russian regions24 June, 10:31 AM
Ukrainian drones knock out power in Russian-held Sevastopol22 June, 03:20 PM
Ukraine strikes Russian missile electronics plant in Voronezh
