Trump’s Russian Oil Waiver Expires, Billions Flow to Moscow
The Trump administration allowed a temporary waiver on certain Russian oil sales to expire on April 11, resuming U.S. sanctions on Russian oil after a short-lived effort to stabilize markets. This decision, intended to increase supply during a period of market instability, drew bipartisan criticism as Russia has benefited from elevated oil prices and supported Iran amid ongoing conflict. Despite U.S. Treasury Secretary Scott Bessent’s assurances that the waiver would not provide significant financial benefit to Russia, analysts indicate that Moscow profited from the ability to sell stranded oil and saw narrowed discounts on its crude, potentially earning billions. The expiration of the waiver did not significantly impact oil prices, as much of Russia’s crude continues to be moved via shadow fleet tankers bypassing sanctions.
John Q. Hosedrinker