US Reissues 30-Day Waiver for Russian Oil Already Loaded on Tankers

The US Treasury will reissue a 30-day sanctions waiver allowing third countries to buy Russian oil already loaded or stored on tankers, after the previous authorization expired on May 16.

Reuters reported this on May 18, citing sources familiar with the matter.

The earlier general license lapsed on Saturday without an immediate renewal notice posted on the Treasury website, briefly closing the legal channel for buyers of Russian crude that had already been loaded onto tankers. Sources told the agency the carve-out will now be reissued for a further month.

The move comes despite earlier signaling from US Treasury Secretary Scott Bessent, who had indicated he would not renew the license.

The general license authorizes purchases of Russian oil stored on tankers and was originally issued to ease global supply shortages after Iran's closure of the Strait of Hormuz.

Days earlier, two senior Democratic senators, Jeanne Shaheen and Elizabeth Warren, urged the Trump administration not to renew the measure. In a joint appeal, they argued the carve-out channeled revenue to Russia for its war against Ukraine without producing evidence of lower fuel costs for American consumers.

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The pattern mirrors an April reversal, when the administration renewed the same waiver for roughly a month after Bessent had publicly ruled out an extension just two days prior.

That round followed direct lobbying from Asian partners, including Indian Prime Minister Narendra Modi, who pressed Washington on the sidelines of G20, World Bank, and IMF meetings to keep alternative supplies flowing.

"Treasury wants to ensure oil is available to those who need it," a Treasury Department spokesperson explained at the time of the April extension.

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