Overview
- The temporary waiver that relaxed some U.S. sanctions on Russian oil shipments expired Saturday, with no extension posted by the Treasury.
- The exemption was created in mid-March to steady global energy markets after oil prices jumped during the Iran war.
- Democratic Senators Jeanne Shaheen and Elizabeth Warren urged the Trump administration on Friday to end the waiver, calling it a boon to Russia’s finances.
- U.S. gasoline now averages $4.52 per gallon, according to AAA, which keeps domestic pressure high ahead of fall midterm elections.
- Critics argue the prior easing boosted Moscow’s oil income used to fund its war in Ukraine, a concern behind years of U.S. sanctions on Russia’s energy sector.