US Treasury allows sanctions waiver on Russian seaborne oil to lapse, raising global supply concerns
The US Treasury has allowed its sanctions waiver on Russian seaborne oil to expire, which may impact global oil supply. This decision follows the Trump administration's choice not to renew temporary licenses for Russian crude purchases. The expiration of the waiver could lead to tighter oil markets and affect various risk assets.
- ▪The sanctions waiver expired on May 16, 2026, closing a window for countries to buy Russian crude without triggering secondary sanctions.
- ▪Around 10 countries had requested continued relief due to supply risks linked to instability in the Strait of Hormuz.
- ▪Treasury Secretary Scott Bessent had previously extended sanctions relief for an additional 30 days, but no further renewal was issued.
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<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/16225200/should-the-60-price-cap-on-russian-oil-exports-be-lowered-fr-1-800x420.jpeg" alt="US Treasury allows sanctions waiver on Russian seaborne oil to lapse, raising global supply concerns" class="w-full aspect-[19/10] object-cover" /> US Treasury allows sanctions waiver on Russian seaborne oil to lapse, raising global supply concerns The Trump administration's decision not to renew temporary licenses for Russian crude purchases could tighten global oil markets and ripple into risk assets like crypto. Share Add us on Google by Editorial Team May.
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