POLITICS

U.S. Treasury Reissues One-Month Waiver For Russian Oil

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Washington — The U.S. Treasury on Friday issued General License 134B, temporarily authorizing transactions tied to Russian crude and petroleum products loaded onto vessels as of April 17, 2026, and permitting their sale through May 16, 2026. The waiver replaces an earlier license that expired on April 11 and follows March exemptions. The decision, announced this week amid West Asia conflict disruptions and Strait of Hormuz volatility, reverses a prior public statement by Treasury Secretary Scott Bessent that the license would not be renewed; it aims to ease immediate energy shortages and price spikes while explicitly excluding transactions involving Iran, Cuba and North Korea.

Prepared by Lauren Mitchell and reviewed by editorial team.

Timeline of Events

March 5, 2026 — U.S. granted a month-long exemption to India allowing import of certain Russian oil.
March 11, 2026 — Earlier 30-day waiver referenced shipments loaded by this date.
April 11, 2026 — A prior waiver expired, tightening immediate availability of Russian oil already at sea.
April 17, 2026 — Treasury/OFAC issued General License 134B authorizing transactions for oil loaded by April 17 through May 16.
April 17–18, 2026 — Markets reacted to Strait of Hormuz developments; oil prices moved and coverage noted the administration’s reversal after Bessent’s prior statement.

Why This Matters to You

This waiver means you might see a slight drop in gas prices. It's a temporary fix to ease energy shortages and price spikes. It doesn't involve Iran, Cuba, or North Korea. Keep an eye on your local gas station's prices.

The Bottom Line

The U.S. Treasury is buying time with this waiver, trying to stabilize oil prices amid global conflicts. But it's a short-term solution. For now, fill up your tank when prices dip. Worth forwarding if you know someone watching their budget closely.