Overview
- Treasury, which let the earlier waiver expire Saturday, issued a new 30‑day license Monday to allow delivery of Russian oil already loaded at sea.
- The narrow OFAC authorization covers cargoes loaded by set cutoff dates and protects buyers from secondary U.S. sanctions that would otherwise hit such trades.
- Secretary Scott Bessent said the step steadies physical crude supply for the most vulnerable countries as the Strait of Hormuz, a route for about one‑fifth of global oil, remains largely shut.
- Critics including Senators Jeanne Shaheen and Elizabeth Warren and Ukrainian officials argue the carve‑out props up Russia’s wartime revenue, and U.S. pump prices remain elevated near $4.50 a gallon.
- India, a leading buyer of Russian crude, said it will keep purchasing based on commercial and energy‑security needs, and its imports climbed after earlier short‑term waivers.