In a reversal of its earlier position, the administration of Donald Trump renewed a sanctions waiver that allows countries to continue purchasing Russian oil and petroleum products transported by sea, extending the relief for about another month. India have been among major beneficiaries of these waivers.
The US treasury department posted the updated license late Friday local time, permitting transactions involving Russian oil loaded onto vessels from that day through May 16.
The move comes just two days after Trump’s treasury secretary Scott Bessent had publicly indicated there were no plans to extend such waivers.
“We will not be renewing the general license on Russian oil and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11. So all that has been used,” said Bessent at a press conference.
The new authorization replaces a previous 30-day waiver that lapsed on April 11. While it allows continued purchases under specific conditions, it explicitly excludes transactions involving Iran, Cuba and North Korea.