Trump Administration Reverses Course, Extends Russia Oil Waiver Just Days After Refusal
In a sudden policy reversal, the U.S. Treasury Department under Donald Trump has extended a sanctions waiver allowing continued purchases of Russian oil until May 16. The move comes days after Scott Bessent signalled no extension, highlighting a sharp shift aimed at stabilising global energy prices amid ongoing disruptions in the Strait of Hormuz. While the waiver excludes countries like Iran, it has sparked political backlash in Washington and concern among European allies.
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