US extends waiver for Russian oil despite Treasury official Bessent
The US extended a narrow waiver covering certain Russian oil cargoes already at sea or loaded between April 17 and May 16, 2026.
This move is meant to keep global energy markets steady while tensions are high between the US Israel, and Iran.
Interestingly, this goes against what treasury official Scott Bessent said earlier. He had indicated Washington did not plan to extend the relief.
Critics warn waiver could help Russia
Even with this waiver, oil prices are still bouncing around because of Iran partially closing the Strait of Hormuz.
Some critics say the extension could actually help Russia's economy and weaken sanctions.
Plus, not everyone is happy about it: European leaders like Ursula von der Leyen are not fans of easing up on Russia right now.
Meanwhile, Russian envoy Kirill Dmitriev had earlier said the initial waiver could put nearly 100 million extra barrels of crude into the market at a tricky time for global politics.