US Allows Russia Oil Sales Waiver To Expire Despite Tight Market

By Jennifer A. Dlouhy

May 16, 2026 (Bloomberg) –The Trump administration allowed a waiver that encouraged more Russian crude sales to lapse, even as the Iran war stokes concerns about global oil supplies and higher fuel costs. 

The expiration effectively ends for now a brief period where the administration eased sanctions on some Russian oil, enabling purchases that would otherwise be barred. The Trump administration issued an initial waiver in March and a second after the first expired in April — both applying only to a subset of Russian oil that had already been loaded onto tankers. 

The waivers have been controversial, especially