Trump Administration Reverses Course, Extends Waiver for Russian Oil Purchases

WASHINGTON D.C. | To control rising global fuel prices, the U.S. Trump administration has renewed the waiver allowing the purchase of sanctioned Russian oil. This decision comes just two days after Washington stated it had no plans to grant further exemptions, marking a significant shift in its stance.

The U.S. Treasury Department issued a new license late Friday, permitting Russian oil purchases until May 16. The Trump administration took this step to stabilize energy prices in the global market, which have surged due to the conflict involving the U.S., Israel, and Iran. 

This new license replaces the 30-day waiver that expired on April 11. However, the terms explicitly prohibit the involvement of Iran, Cuba, and North Korea in these transactions.

Only on Wednesday, U.S. Treasury Secretary Scott Bessent had stated that waivers for Russian and Iranian oil would not be renewed. However, while the Iranian oil waiver is set to expire on Sunday, the government has reversed its decision regarding Russian oil. 

Just last month, Bessent acknowledged that the waiver granted to Iran had allowed approximately 140 million barrels of oil to reach the global market, helping to ease pressure on energy supplies.

The Trump administration's decision has faced sharp criticism from lawmakers across both ruling and opposition parties in the U.S. They argue that such waivers strengthen the economies of Russia, which is at war with Ukraine, and Iran, which is engaged in conflict alongside the U.S. 

According to expert Brett Erickson, this renewal may not be the last, as the damage caused by the conflict to the global energy market is severe, and options to stabilize it are nearly exhausted.

Russian presidential envoy Kirill Dmitriev stated that the first phase of the waiver alone would allow 100 million barrels of Russian crude oil to reach the market, equivalent to one day of total global production. While such waivers provide some relief to global supply, they have not fully controlled fuel prices, which have skyrocketed due to disruptions in the Strait of Hormuz.

Meanwhile, this flexible policy from Washington appears likely to cause friction in relations with European allies. European Commission President Ursula von der Leyen has consistently maintained that this is not the appropriate time to ease sanctions on Russia.