Washington DC (US), April 18, 2026, BNN Web Staff: The US Department of the Treasury has issued a new short-term waiver allowing the sale and transportation of sanctioned Russian oil currently stranded at sea, in an effort to calm increasingly unstable global energy markets.
The fresh authorization permits transactions involving Russian crude and petroleum products that were loaded onto vessels on or before April 17. The waiver will remain in effect until May 16, replacing an earlier provision that had lapsed earlier this month.
Under the updated guidelines, buyers are allowed to proceed with the delivery and offloading of such oil shipments, even if the vessels involved fall under sanctions.
However, the waiver continues to exclude any dealings linked to countries such as Iran, North Korea, and Cuba, maintaining strict compliance boundaries.
The move comes at a time of heightened geopolitical tensions and supply disruptions tied to the ongoing crisis in West Asia, which have significantly impacted oil prices and global supply chains.
Earlier this week, US Treasury Secretary Scott Bessent indicated that broader exemptions related to Russian and Iranian oil would not be extended, suggesting a tightening stance despite the temporary relief measure.
Russian officials have previously estimated that earlier waivers could release substantial volumes of crude into the market, helping offset supply shortages.
However, the policy has faced criticism within Europe, with Ursula von der Leyen warning that such steps risk weakening sanctions imposed over the Ukraine conflict.
Meanwhile, oil markets have shown sharp fluctuations amid shifting developments in the region.
Prices dipped after signals that the strategically crucial Strait of Hormuz may remain open during the ongoing ceasefire, though uncertainty continues over navigation rules and regional security.
Amid these developments, Donald Trump reiterated that any broader agreement involving Iran would only take full effect once completely finalised, underlining the fragile nature of ongoing diplomatic efforts.
