Trump reverses Russia oil stand, renews sanctions waiver for countries to buy Russian crude
Mint·4h ago·Neutral
What Happened
The Trump administration reversed its stance Friday, extending a sanctions waiver allowing countries to purchase Russian oil through May 16. Treasury Secretary Scott Bessent had stated days earlier the waiver would not be renewed. The decision aims to control global energy prices amid Middle East tensions. The license excludes Iran, Cuba, and North Korea transactions. Congressional lawmakers from both parties criticized the move, citing concerns about funding Iran and Russia amid ongoing conflicts.
Key Entities
Trump AdministrationRussian OilSanctions WaiverScott BessentUS Treasury DepartmentIranUkraineMay 16