US Issues New Russia Oil Waiver as Iran War Crunches Supplies

The US on Monday issued a new waiver allowing the sale of Russian crude oil and petroleum products that are already loaded on tankers, days after the previous one lapsed.

The Treasury Department’s Office of Foreign Assets Control issued a so-called general license waiver, which now extends to June 17. The release confirmed an earlier Bloomberg report. Treasury Secretary Scott Bessent said in a post on X that the new general license “will help stabilize the physical crude market.”

The decision underscores the pressure President Donald Trump’s administration faces to rein in higher fuel costs and address a global ...