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US exemption on Russian oil expires amid rising energy prices

Started 17 May, 05:10 2 events Updated 18 May
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latest: 18 May
  1. Economic17 May, 05:10

    US exemption on Russian oil expires amid rising energy prices

    Washington, United States

    US exemption on Russian oil expires amid rising energy prices A US exemption allowing the delivery and sale of Russian-origin crude oil and petroleum products expired on Saturday amid rising global energy prices linked to the war involving Iran. In April, the United States Department of the Treasury issued a waiver permitting shipments of Russian oil loaded onto vessels beginning on 17 April. Washington introduced the exemption in an effort to ease pressure on global energy markets and stabilise fuel prices. Petrol prices in the United States have risen sharply since the outbreak of the Iran war. Aerial view shows fuel storage tanks at depot on outskirts of Rome, 25 April 2026 (Andrea Bernardi/AFP)

    Middle East Eye
  2. Economic18 May, 18:02

    US issues 30-day sanction waiver for Russian oil

    Washington, United States

    US issues 30-day sanction waiver for Russian oil The United States has extended a waiver allowing access to Russian oil , as it moves to ease pressure on global energy supplies following its on Iran and the resulting bloackade on the Strait of Hormouz. Treasury Secretary Scott Bessent said Washington will issue a 30-day general licence to enable the temporary release of cargoes blocked during recent disruptions. The measure follows an earlier waiver introduced during the Strait of Hormuz blockade amid the US-Israel war on Iran, when supply fears drove up prices. The policy aimed to stabilise markets, but it has failed to bring down petrol costs in the United States. Bessent said the extension will give governments and buyers more room to manage supply constraints. “This extension will provide additional flexibility, and we will work with ‌these nations to provide specific licenses as needed. This general license will help stabilise the physical crude market and ensure oil reaches ⁠the most energy-vulnerable countries,” he wrote on X.

    Middle East Eye

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