By Hannah Miao
The U.S. is allowing countries to buy Russian oil for another month after previously saying it wouldn't renew the sanctions waiver.
Russian crude oil and petroleum products loaded on vessels as of Friday are allowed to be purchased, according to a notice posted by the U.S. Treasury Department on Friday. The license ends May 16. The waiver replaces a previous measure to boost supply that was introduced mid-March and expired April 11. Treasury Secretary Scott Bessent two days ago said the U.S. wouldn't renew the waiver for Russian oil.
The war has boosted Russia's oil export revenue, which nearly doubled in March to $19 billion from $9.7 billion in February, according to the International Energy Agency. Millions of barrels of Russian oil came onshore in India and China last month, the IEA said. The European Union and Ukraine have criticized the U.S. decision to ease sanctions on Russian oil.
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(END) Dow Jones Newswires
April 17, 2026 23:06 ET (03:06 GMT)
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