The Trump administration’s latest extension allowing sales of Russian crude already at sea underscores mounting fears of an oil supply shock, with Brent crude climbing above $100 and geopolitical pressure intensifying across global energy markets.
The Trump administration has extended for another month a controversial sanctions waiver allowing the continued sale of Russian crude oil already loaded onto tankers, a move that highlights growing concern inside Washington over global energy stability as the Iran conflict and the closure of the Strait of Hormuz continue to disrupt international shipping lanes.
U.S. Treasury Secretary Scott Bessent announced Monday that the Treasury Department’s Office of Foreign Assets Control (OFAC) would renew the temporary sanctions relief for a third consecutive month, allowing countries to continue purchasing Russian oil currently “on the water.”
The extension reflects escalating fears that a sudden tightening of global crude supplies could trigger another energy price shock, potentially sending oil prices well beyond current levels and intensifying inflationary pressure across the world economy.
