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The United States has extended by 30 days a sanctions waiver allowing Russian oil cargoes already at sea to be delivered, following rising global energy prices linked to the ongoing Iranian conflict.
US Treasury Secretary Scott Bessent, in a post on X (formerly Twitter) on Monday, said the temporary measure would “provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea.”
.@USTreasury is issuing a temporary 30-day general license to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea.
This extension will provide additional flexibility, and we will work with these nations to provide…
— Treasury Secretary Scott Bessent (@SecScottBessent) May 18, 2026
He said the extension was aimed at easing pressure on global supply chains and helping stabilise energy markets affected by disruptions to key shipping routes.
The waiver, which has now been extended for a second time, was first introduced in March to address supply shortages and has since been renewed as global oil prices continue to rise.
The latest extension follows continued volatility in energy markets after the US-Israel conflict with Iran disrupted supply flows and contributed to higher fuel costs worldwide.
Iran’s retaliatory actions have also affected regional shipping routes, with tensions in the Strait of Hormuz, through which a significant share of global oil trade passes, adding to market uncertainty.
Since the outbreak of the conflict, global oil prices have surged, with fuel costs in the United States reportedly more than 50 percent higher than previous levels.
The new waiver is valid until 12:01 a.m. US Eastern Time on June 17, according to the Treasury Department.
While aimed at easing supply constraints, the measure does not permit transactions involving entities linked to Iran, North Korea, Cuba, or Russian-occupied territories in Ukraine according to the Treasury.
