Trump Administration Likely to Extend Russian Oil Waiver Amid Iran Conflict
President Donald Trump's administration is considering extending a waiver that allows countries to purchase sanctioned Russian oil and petroleum products. This waiver, initially set to expire on April 11, was introduced to stabilize global energy prices during the ongoing U.S.-Israeli conflict with Iran. The waiver could release 100 million barrels of Russian crude, which is nearly a day's worth of global output. Treasury Secretary Scott Bessent discussed the extension with President Trump, and they agreed on its potential benefits. The conflict has led to a spike in oil prices due to the partial closure of the Strait of Hormuz, a critical passage for global oil and gas shipments. 
