US extends waiver allowing India, other countries to buy Russian oil amid Iran war
The US Treasury Department has extended a waiver allowing countries to purchase Russian oil and petroleum products until May 16. The move aims to control global energy prices amid the ongoing conflict in Ukraine and tensions with Iran.
The US Treasury Department has extended a waiver allowing countries to buy Russian oil and petroleum products loaded on vessels as of April 14 through May 16. This replaces a 30-day waiver that expired on April 11. The waiver excludes transactions involving Iran, Cuba, and North Korea. The move is part of the administration's effort to control global energy prices. Global oil prices have been affected by the conflict in Ukraine and tensions with Iran. The waiver has been criticized by US lawmakers, who argue it helps Russia's economy during its war with Ukraine.
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