Washington: In a notable policy shift, the Donald Trump administration has renewed a sanctions waiver permitting countries, including India, to purchase Russian oil and petroleum products shipped by sea. The extension provides relief for roughly another month, just days after US officials signaled it would not continue.
The US Treasury Department released the updated license late Friday, authorizing transactions for Russian oil loaded onto vessels from that point until May 16. India has ranked among the primary beneficiaries of these waivers in recent years.
This decision follows comments made by Treasury Secretary Scott Bessent only two days earlier. At a press conference, Bessent stated: “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.”
The fresh authorization replaces a previous 30-day waiver that expired on April 11. While it enables continued purchases of Russian oil under defined conditions, the license specifically does not cover transactions linked to Iran, Cuba, or North Korea.
The development highlights a quick turnaround from the administration’s earlier stance against extending the general licenses, which had drawn attention amid ongoing geopolitical tensions. India’s access to discounted Russian crude has helped stabilize its energy needs, though the waiver’s temporary nature keeps future imports subject to evolving US policy.
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