The Trump administration on Saturday chose not to renew a sanctions waiver allowing the purchase of seaborne Russian oil, targeting a key source of revenue for Moscow amid the war in Ukraine.
The waiver was first issued in March as President Donald Trump sought to help contain rising energy prices during the Iran war and disruptions to shipping through the Strait of Hormuz. The waiver reflects debates about how to maintain stability in global oil markets while simultaneously constraining Russia’s energy revenue during the war in Ukraine.
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Sen. Jeanne Shaheen of New Hampshire, the top Democrat on the Senate Foreign Relations Committee, and Sen. Elizabeth Warren (D-MA) issued a joint statement Friday calling on the Treasury Department to allow the waiver to lapse.
“Treasury must finally end its ill-conceived policy of helping Russia make even more money from President Trump’s reckless war in Iran. With the average price of gas above $4.50
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