US won’t renew temporary waiver that allowed India to buy sanctioned Russian oil

The United States will not renew temporary waivers that had allowed the purchase of certain Russian and Iranian oil cargoes, Treasury Secretary Scott Bessent said on Wednesday.

“We will not be renewing the general license on Russian oil and Iranian oil,” Bessent said, referring to short-term authorisations granted last month. “That was oil that was on the water prior to March 11th. So all that has been used.”

The decision follows a series of short-term authorisations issued last month to stabilise global energy markets amid tensions in West Asia.

The United States had allowed Indian refiners and other buyers to take delivery of Russian crude and petroleum products that had already been loaded onto vessels in early March but were stranded at sea.

Bessent had said at the time that the limited waiver was aimed at ensuring continuity of supply and easing pressure “caused by Iran’s attempt to take global energy hostage.”

He stressed the measure was narrow in scope and duration, applying only to pre-loaded cargoes and therefore unlikely to deliver significant financial gains to Moscow.

Washington subsequently expanded the waiver to permit additional countries to purchase sanctioned Russian oil shipments already in transit.

A similar 30-day licence was later issued for Iranian oil purchases.

The Russian oil waiver expired on April 11, while the Iranian oil waiver is set to lapse on April 19.

The temporary easing of sanctions drew sharp criticism from Democratic lawmakers, who argued the move risked undermining pressure on Moscow and Tehran.

Senator Richard Blumenthal said that extending the waiver would “fuel” Russia’s war efforts, while a group of senior Democrats, including Senators Elizabeth Warren, Jeanne Shaheen and Senate Majority Leader Chuck Schumer, accused President Donald Trump’s administration of providing undue economic relief to the Kremlin.

In a joint statement, the lawmakers said the waivers could enable Russia to reap substantial revenues while raising concerns about whether the administration had complied with congressional notification requirements under existing sanctions laws.

“Secretary Bessent needs to testify because Congress and the American people deserve immediate answers,” they said.