US Treasury Allows Russian Oil Sanctions Waiver to Lapse – United States, 2026-05-16 | WarHeatMap.app

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Home › United StatesUS Treasury Allows Russian Oil Sanctions Waiver to LapseThe Trump administration allowed a crucial sanctions waiver for Russian seaborne oil to expire on May 16, 2026. The waiver previously enabled countries like India to purchase Russian oil despite existing sanctions, primarily to stabilize global markets during Iran's closure of the Strait of Hormuz. US Treasury Secretary Scott Bessent declined to renew the license, citing the need to restrict revenue used by the Kremlin for the war in Ukraine, leading to immediate spikes in Brent crude prices.
Date: 2026-05-16
Country: United States
Conflict: Russia-Ukraine War
Severity: MEDIUM
Source: The Guardian
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