Overview
- The U.S. Treasury, which issued the new license Saturday, extended permission for crude and fuel already loaded on tankers to be sold and delivered through May 16 under U.S. East Coast time.
- The waiver covers Russia’s shadow fleet of tankers that obscure ownership, while keeping deliveries to Iran, Cuba, North Korea and Russian‑occupied parts of Ukraine off limits.
- The decision reverses course from Treasury Secretary Scott Bessent’s statement days earlier that the easing would not be extended.
- The International Energy Agency says earlier relaxations nearly doubled Russia’s oil income as big buyers such as China and India increased purchases.
- The Kremlin praised the move, with envoy Kirill Dmitriev calling Russian energy essential for market stability and using the decision to needle Western hard-liners.