Trump Extends Sanctions Waiver on Select Russian Oil Imports
The decision arrives just 48 hours after Treasury Secretary Scott Bessent had publicly declared that Washington would allow the Russian oil exemption to lapse — a stark reversal that drew immediate condemnation from Democratic lawmakers.
Fuel prices have surged dramatically since hostilities erupted in the Middle East in late February. According to the American Automobile Association (AAA), the national average for regular unleaded gasoline has jumped more than 30% to exceed $4 per gallon, while diesel has spiked over 40%, breaching the $5 mark.
The Trump administration had initially eased restrictions on stranded Russian oil exports after the war destabilized global energy markets, seeking to relieve price pressure by permitting countries to legally acquire hundreds of millions of blacklisted barrels of crude, the NYT previously reported. With the conflict now stretching into its second month and domestic prices showing no signs of easing, the original waiver — which lapsed April 11 — has been renewed through May 16.
The NYT noted that the eleventh-hour extension of Russia's sanctions relief coincided with Iran's announcement Friday that the Strait of Hormuz — a critical maritime corridor responsible for transporting 20% of the world's oil supply — was fully open to all commercial vessels.
President Donald Trump seized on the development, posting on social media that the "Hormuz Strait situation is over" and asserting that Iran had committed to keeping the waterway permanently accessible.
Iran, however, offered no such guarantee. Foreign Minister Seyed Abbas Araghchi stated that the strait would remain open "for the remaining period of cease-fire" between Washington and Tehran — a truce set to expire next week. Diplomatic delegations from both nations are expected to convene in Pakistan for a fresh round of peace negotiations ahead of the deadline.
The sanctions extension drew fierce pushback from Senate Democrats. Jeanne Shaheen, ranking member of the Senate Foreign Relations Committee, joined senior Democratic colleagues Chuck Schumer and Elizabeth Warren in issuing a pointed rebuke.
"This decision is shameful and a 180-degree reversal from Secretary Bessent, just two days after he pledged not to extend sanctions relief for Russia," they said in a statement. "This week, (Russian President Vladimir) Putin launched the largest aerial attack of the year so far on Ukraine, killing 18 and the Administration's response is to relax sanctions on the Kremlin yet again. What kind of message does this move send?"
Even as Trump has sought to minimize both rising gas prices and the broader economic toll of the Iran conflict, the Democratic senators argued the exemption disproportionately serves Moscow's interests.
"Make no mistake, Putin has been one of the biggest beneficiaries of President Trump's war against Iran, as Russia saw oil revenues nearly double in March," they said. "Enough is enough. President Trump needs to stop letting Putin play him for a fool and impose additional sanctions on Putin, who is clearly not feeling sufficient pressure from this President."
The senators issued a final warning: "If President Trump does not change course, the war in Ukraine will continue and more innocent people will die."
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