economy
Trump extends Russian oil sanctions waiver for most vulnerable nations
The Trump administration has once again extended a sanctions waiver allowing the purchase of seaborne Russian oil, this time carving out the exemption for the “most energy-vulnerable” countries as the war in Iran continues to choke global flows of crude.
TL;DR
- The Trump administration issued a 30-day general license for the purchase of Russian oil.
- This waiver is an extension, with the previous one having expired.
- The exemption is carved out for the "most energy-vulnerable" countries.
- The move is intended to stabilize the crude market and address global flow disruptions caused by the war in Iran and the closure of the Strait of Hormuz.
- Treasury Secretary Scott Bessent confirmed the extension, stating it provides flexibility and will help ensure oil reaches vulnerable nations.