Why is the U.S. Treasury extending the sanctions waiver on Russian seaborne oil, and which countries requested it?

The U.S. Treasury is extending the sanctions waiver on Russian seaborne oil for another 30 days because several poor and vulnerable countries—cut off from Gulf oil supplies due to the Iran war and the closure of the Strait of Hormuz—asked for more time to purchase it; the source declined to name those countries.

What is the stated purpose of the original waiver, and how many times has it lapsed and been extended?

The waiver was first issued in March to ease oil supply shortages and mitigate price spikes caused by U.S.-Israeli attacks on Iran, by allowing sanctioned Russian oil and petroleum products stranded in tankers to be released; this marks the second time the Treasury has allowed the waiver to lapse and then extend it.

US Treasury to Extend Sanction Waiver on Russian Seaborne Oil, Source Says

May 18, 2026

The U.S. Treasury will extend its sanctions waiver on Russian seaborne oil for 30 days to support vulnerable countries, coinciding with a 1.5% rise in Brent crude prices to $111 per barrel due to regional supply concerns.

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US Treasury to Extend Sanction Waiver on Russian Seaborne Oil, Source Says

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