Overview
- Reuters reported Friday that the Trump administration is likely to renew the 30‑day sanctions waiver, with no public confirmation by Saturday, after the war in Iran drove oil prices sharply higher.
- General License 134, issued March 12, lets buyers take Russian cargoes already on tankers and, according to Kremlin envoy Kirill Dmitriev, could free up to 100 million barrels.
- Treasury Secretary Scott Bessent met President Trump in the Oval Office on Wednesday and, sources say, both backed an extension, and he has called the waivers a deliberate short-term measure.
- Six Democratic senators urged Treasury not to renew the license in a Friday letter, warning it would provide Russia with ongoing oil revenue during its war in Ukraine.
- Asian governments, including India and the Philippines, are pressing for an extension, while some European allies resist loosening pressure on Moscow.