The United States Grants 30

by Ismail Shakil and Gleb Bryanski

The United States has granted a 30-day waiver for the purchase, despite American sanctions, of Russian oil and petroleum products currently held at sea, a measure aimed at stabilizing global energy markets disrupted by the war in Iran.

Oil prices initially dropped slightly on Asian markets Friday morning after the announcement, but remain high, with Brent exceeding $100 per barrel and U.S. crude around $96.

The waiver, granted Thursday by Washington, allows for the delivery and sale of Russian crude oil and petroleum products which were loaded onto ships by March 12.

It will be valid until midnight on April 11, Washington time, according to a statement on the Treasury Department’s website.

According to Russian presidential commissioner Cyrille Dmitriev, the waiver covers 100 million barrels of oil, nearly a day’s worth of global production.

EUROPEAN CONCERNS

While the easing of sanctions is expected to boost global oil supply, it could complicate Western efforts to deprive Russia of income needed for its war in Ukraine and put Washington at odds with its allies.

European leaders, including German Chancellor Friedrich Merz, criticized the waiver.

“There is currently a problem with prices, but not with supply. In this regard, I would like to know what other factors led the U.S. government to make this decision,” he said during a visit to Norway.

“Six G7 members were very clear that this was not the right signal. We then learned this morning that apparently the U.S. government decided otherwise,” he added.

European Council President Antonio Costa expressed concern over the unilateral decision’s impact on European security.

“Increasing economic pressure on Russia is decisive for accepting serious negotiations for a just and lasting peace,” he wrote.

Norwegian Prime Minister Jonas Gahr Store echoed calls not to ease sanctions on Russian oil, aligning with previous remarks by French President Emmanuel Macron and European Commission President Ursula von der Leyen.

This decision is the latest move by the Trump administration to control energy prices following disruptions in oil supply due to U.S. and Israeli attacks on Iran.

SECOND EASING OF US SANCTIONS

It marks the second significant relaxation of American sanctions related to the war in Ukraine in just over a week, after a 30-day waiver was granted to India on March 5 to purchase Russian oil at sea.

The decision highlights White House concern over rising oil prices approaching the November midterm elections, where Republicans hope to retain control of Congress.

Treasury Secretary Scott Bessent emphasized that the measure is “narrowly targeted” and short-term, with no significant financial boost to the Russian government.

The sanctions were eased after a phone call between Donald Trump and Russian President Vladimir Putin on March 9, followed by a visit from Cyrille Dmitriev and a U.S. delegation to discuss the energy crisis.

The American decision aims to stabilize global energy markets, a priority shared by Moscow, according to Kremlin spokesperson Dmitri Peskov.

(Reporting by Ismail Shakil, Christian Martinez, Jasper Ward, and Gleb Bryanski; with James Williams in London; French version edited by Diana Mandia and Benoit Van Overstraeten)