The administration of Donald Trump on Friday reinstated a temporary waiver permitting countries to continue purchasing sanctioned Russian oil and petroleum products at sea for roughly one month.
The decision came just two days after officials indicated there were no plans to extend the measure.
According to a notice posted late Friday by the Treasury Department, the renewed license authorizes the purchase of Russian oil loaded onto vessels as of that day through May 16.
The move replaces a previous 30-day waiver that expired on April 11 and explicitly excludes transactions involving Iran, Cuba, and North Korea.
The waiver is part of broader efforts by the administration to manage rising global energy prices, which have surged amid the ongoing U.S.-Israeli conflict with Iran.
The extension follows earlier remarks by Treasury Secretary Scott Bessent, who said on Wednesday that Washington would not renew either the Russian oil waiver or a similar exemption for Iranian oil set to lapse on Sunday.
The Iranian waiver, originally issued on March 20, enabled approximately 140 million barrels of oil to enter global markets. Bessent noted last month that the measure helped ease supply pressures during the conflict.
Despite these efforts, the policy has drawn criticism from lawmakers across party lines, who argue that such waivers risk bolstering the economies of Iran—amid its conflict with the United States—and Russia, which remains engaged in war with Ukraine.
Brett Erickson, a sanctions specialist at Obsidian Risk Advisors, suggested that further waivers may be forthcoming.
“The conflict has done lasting damage to global energy markets, and the tools available to stabilize them are nearly exhausted,” Erickson said.
Russian presidential envoy Kirill Dmitriev previously stated that the initial waiver would release 100 million barrels of Russian crude into the market, roughly equivalent to a full day of global oil production.
While the temporary easing of sanctions could increase global oil supply, it has not prevented price spikes. Market volatility has been exacerbated by Iran’s partial closure of the Strait of Hormuz, a critical transit route that previously handled about 20% of the world’s oil and gas shipments.
The continuation of these waivers may also complicate Western strategies aimed at limiting Russia’s revenue stream for its war in Ukraine, potentially creating friction with allied nations. European Commission President Ursula von der Leyen has cautioned that now is not the time to ease sanctions against Moscow.
