Trump Renews Waiver Allowing Countries To Buy Sanctioned Russian Oil
Washington DC, United States: The US administration has renewed a waiver to allow several countries including India to buy sanctioned Russian oil at sea for about a month. The waiver comes despite many lawmakers accuses the US government of taking soft stand on Moscow as its war on Ukraine continues.
The Treasury Department’s waiver lets countries purchase Russian oil and petroleum products loaded on vessels as of Friday through May 16. It replaces a 30-day waiver that expired on April 11.
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The move, the administration claim, is part of its efforts to control global energy prices that have shot higher after the US-Israeli war on Iran. The war resulted in the global oil supply disruptions, affecting several Asian countries, requiring alternative energy sources.
US initially granted the waiver to India and several other countries after Tehran closed the key oil transit route, triggering oil and gas shortage across the world. The US had clarified that the waiver is temporary aimed at easing the economic woes.
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The extension of the waiver comes amid the fragile ceasefire and uncertainty over the safe passage through the Strait Of Hormuz, which Iran declared fully open for commercial vessels on Friday and reversed it to the previous state on Saturday citing lack of trust and commitment from the US.
