US extends sanctions waiver on Russian oil: Why it matters

The United States has announced another 30-day extension of a sanctions waiver for countries buying Russian oil and petroleum products currently already loaded on tankers at sea, as global energy markets have been roiled by the US-Israel war on Iran. In a post on X on Monday, Treasury Secretary Scott Bessent announced that the US would issue the extension “to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea”. …