Thursday, May 21Thursday, May 21The U.S. has extended a 30-day sanctions waiver for Russian oil shipments already loaded or stored on tankers, marking the second such extension in recent months. The move aims to mitigate global oil supply disruptions caused by Iran’s closure of the Strait of Hormuz, which has tightened energy markets and driven up fuel prices. The waiver allows third countries to purchase Russian oil without violating U.S. sanctions, despite earlier signals from Treasury Secretary Scott Bessent that the license would not be renewed. The decision follows lobbying from Asian partners, including India, which sought to maintain alternative oil supplies amid the crisis .
The extension was announced during a G7 finance ministers’ meeting, where policymakers discussed rising energy prices and sanctions policy as part of broader efforts to contain the economic fallout from the U.S.-Iran conflict. The waiver’s renewal has drawn criticism from U.S. lawmakers, including Senators Jeanne Shaheen and Elizabeth Warren, who argue it benefits Russia without lowering fuel costs for American consumers .
Iran’s oil exports have been severely impacted by a U.S. naval blockade, with President Masoud Pezeshkian publicly acknowledging the challenges for the first time. The blockade has contributed to global supply shortages, exacerbating price volatility and raising fears of a recession. The G7 and U.S. officials are closely monitoring the situation, balancing efforts to stabilize energy markets while maintaining pressure on Iran .
> Background: **🔴 Breaking — Iran oil crisis sparks global price volatility and U.S. sanctions waivers.** — *8 hours ago*
G-7 Finance Ministers Discuss Economic Fallout of Iran War Rising oil prices and growing bond market volatility have raised fears of a global recession.
foreignpolicy.com · 2 days ago
US eases Russian oil sanctions in bid to contain Iran price surge Renewal of 30-day licence comes as high fuel costs hit American consumers
financial times · 2 days ago
Treasury extends Russian oil sanctions waiver for another month A second extension of the waiver indicates that oil market pressures from the closure of the Strait of Hormuz have not eased.
politico.eu · 2 days ago
US extends Russian oil sanctions waiver as Iran war squeezes supply WASHINGTON — The US Treasury Department has extended a sanctions waiver on Russian oil shipments amid supply shortages…
europesays.com · 2 days ago
US extends Russian oil waiver in attempt to lower fuel prices Thirty-day licence comes as American voters become frustrated at high cost of petrol and diesel
financial times · 2 days ago
US Extends Russian Oil Waiver As Bessent Urges Tougher Iran Sanctions The US Treasury Department has extended for another 30 days a sanctions waiver allowing at-risk countries to purchase Russian oil shipments at sea, as supply disruptions linked to the US-Israeli conflict with Iran continue to roil global energy markets.
radio free europe · 2 days ago
US extends pause on Russian oil sanctions into June The move was announced during a meeting of G7 finance ministers, surprising Americas European allies.
politico.eu · 2 days ago
G7 Finance Ministers Look to Contain Iran Economic Fallout Top policymakers were expected to discuss rising energy prices and sanctions policy at a critical summit in Paris this week.
new york times · 2 days ago
US Reissues 30-Day Waiver for Russian Oil Already Loaded on Tankers The US Treasury will reissue a 30-day sanctions waiver allowing third countries to buy Russian oil already loaded or stored on tankers, after the previous authorization expired on May 16.Reuters reported this on May 18, citing sources familiar with the matter.The earlier general license lapsed on Saturday without an immediate renewal notice posted on the Treasury website, briefly closing the legal channel for buyers of Russian crude that had already been loaded onto tankers. Sources told the agency the carve-out will now be reissued for a further month.The move comes despite earlier signaling from US Treasury Secretary Scott Bessent, who had indicated he would not renew the license.The general license authorizes purchases of Russian oil stored on tankers and was originally issued to ease global supply shortages after Irans closure of the Strait of Hormuz.Days earlier, two senior Democratic senators, Jeanne Shaheen and Elizabeth Warren, urged the Trump administration not to renew the measure. In a joint appeal, they argued the carve-out channeled revenue to Russia for its war against Ukraine without producing evidence of lower fuel costs for American consumers.Read moreWar in UkraineMoscows Gold: How Russia Is Taking Advantage of the US-Iran War Mar 27, 2026 15:19 The pattern mirrors an April reversal, when the administration renewed the same waiver for roughly a month after Bessent had publicly ruled out an extension just two days prior. That round followed direct lobbying from Asian partners, including Indian Prime Minister Narendra Modi, who pressed Washington on the sidelines of G20, World Bank, and IMF meetings to keep alternative supplies flowing.Treasury wants to ensure oil is available to those who need it, a Treasury Department spokesperson explained at the time of the April extension. Related articles US Grants India 30-Day Sanctions Waiver for Russian Oil Amid Hormuz Crisis Latest news Mar 06, 2026 12:18 Russian LNG Tanker Left Stranded After India Rejects Sanctioned Cargo Latest news May 11, 2026 18:54 Russia Becomes Chinas Second-Largest LNG Supplier as Exports Hit Record High Latest news Dec 22, 2025 14:21
united24media · 2 days ago
Irans Pezeshkian admits oil exports hit by US naval blockade President Masoud Pezeshkian acknowledged that Iran had run into problems exporting oil, the first such admission by a senior official since the United States imposed a naval blockade on Iranian ports last month.
intellinews · 2 days ago
Mai grav decât COVID-19. Conflictul din Orientul Mijlociu riscă să distrugă milioane de locuri de muncă la nivel global Prelungirea sau escaladarea conflictului din Orientul Mijlociu ar putea avea consecinţe mai grave asupra ocupării forţei de muncă decât cele provocate de pandemia de COVID-19, a avertizat Organizaţia Internaţională a Muncii (OIM) într-un raport.
adevarul · 3 days ago
Recesiunea globală ar putea deveni un scenariu real. Războiul lui Donald Trump în Iran este la doar câteva săptămâni de o criză de proporții Economia mondială s-ar putea confrunta în următoarele săptămâni cu o recesiune, pe fondul crizei energetice provocate de conflictul dintre Statele Unite și Iran.
adevarul · 3 days ago