Listeners:
Top listeners:
-
play_arrow
US Renews Russian Oil Waiver Amid Iran War Energy Strain
by Stefan J. Bos, Worthy News Chief International Correspondent
WASHINGTON/BUDAPEST (Worthy News) – The administration of U.S. President Donald J. Trump has renewed a waiver allowing countries to buy sanctioned Russian oil at sea for about a month, despite critics fearing it could help Moscow finance its war against Ukraine.
The U.S. Treasury Department’s decision 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 and excludes transactions involving Iran, Cuba, and North Korea, according to sources familiar with the matter.
The extension follows a sudden policy reversal by Washington, which had signaled just days earlier that no renewal would be granted. “We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil,” Treasury Secretary Scott Bessent said on Wednesday at the White House.
Fighting in the region has damaged dozens of energy facilities and threatened key shipping routes, raising fears of shortages and renewed disruption in the Strait of Hormuz, a vital artery for global oil transport.
ENERGY PRESSURES DRIVE SHIFT
The waiver allows shipments of Russian oil already loaded onto tankers to reach global markets, offering short-term relief to countries facing tight supply. However, it also enables Moscow to increase export revenues despite sanctions imposed over its war in Ukraine.
That dilemma has sparked criticism in Washington and among European allies, who warn that easing restrictions risks weakening efforts to financially constrain Russia at a crucial stage in the conflict.
At the same time, major oil-importing nations have urged the United States to act, fearing further price increases that could ripple through the global economy.
Rising fuel costs remain a politically sensitive issue, particularly ahead of U.S. elections.
GLOBAL MARKETS UNDER STRAIN
Analysts say the decision reflects the limited options available to policymakers amid the war’s ongoing disruption of energy markets. Combined with earlier measures, the waivers could affect up to 200 million barrels of Russian oil entering global supply chains.
The measures come as higher energy prices are driving up the cost of transport, food, and daily necessities, placing additional strain on households and businesses worldwide, including in Asia.
“People are queuing up for fuel at petrol stations, and there is panic buying. We are very concerned about the future,” said Christian entrepreneur Clarita Orfrecio in an interview with Worthy News from the Philippines. “We pray the Lord will help us.”
Experts warn that lasting damage to infrastructure and ongoing geopolitical tensions could keep markets volatile, forcing governments to take unorthodox steps to maintain stability amid uncertain global energy supplies.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
The Senate confirmed Jay Clayton on Tuesday as President Donald Trump’s director of national intelligence, placing a permanent leader over the nation’s intelligence community after weeks of uncertainty surrounding the post.
Iran’s Islamic Revolutionary Guard Corps launched multiple ballistic missiles at American forces stationed in Jordan early Wednesday, prompting the United States and Saudi Arabia to carry out joint airstrikes against Iranian-backed militias operating inside Iraq.
Israeli Prime Minister Benjamin Netanyahu described his latest White House meeting with President Donald Trump as “one of the best” the two leaders have ever held, saying the discussions demonstrated close cooperation and a shared determination to prevent Iran from acquiring nuclear weapons.
A municipal beach worker searching Israel’s Mediterranean coastline for items lost by swimmers discovered something far older than expected: an exceptionally rare 2,500-year-old coin minted in ancient Cyprus.
Health and Human Services Secretary Robert F. Kennedy Jr. said federal investigators spent approximately eight months locating Dr. Anthony Fauci’s private journals, which Kennedy claimed had been scattered across 11 separate government servers.
Skywatchers are preparing for one of the most remarkable astronomical nights of the decade as a total solar eclipse, the peak of the Perseid meteor shower and a broad gathering of six planets converge around August 12.
The United States has condemned the “horrific killing” of nine relatives of Reverend Ezekiel Dachomo, a Nigerian pastor whose earlier appeal warned that “fear has become a way of life” in Nigeria’s violence-plagued Plateau State.
WHO WE ARE
The Psalms, hymns, and spiritual songs encapsulate the beauty, wisdom, and eternal truths found in the Bible, creating an immersive experience that resonates with believers and seekers alike.
CONTACT
- +1 908 280-4246
- Essex County, USA
- info@tnjrfm.com