Brief by Shorts91 Newsdesk / 05:54pm on 18 May 2026,Monday International
The United States has extended for 30 days a sanctions waiver allowing trade in Russian seaborne oil, citing requests from multiple countries seeking additional time to continue purchases. US Treasury Secretary Scott Bessent said the temporary license would help energy-vulnerable nations access Russian oil stranded at sea and stabilise global crude markets following disruptions linked to the Strait of Hormuz crisis. The waiver, first introduced in March during the US-Israel-Iran conflict, permits limited access to sanctioned Russian petroleum products without violating broader US restrictions on companies such as Rosneft and Lukoil. India has emerged as a major beneficiary, reportedly purchasing around 30 million barrels of Russian oil under the exemption after refiners previously reduced imports due to sanctions.
