US Ends Sanctions Waiver for Russian Oil Shipments; No Renewal After May 16

The United States has not renewed a sanctions waiver that permitted limited purchases and shipments of Russian oil cargoes. This exemption, which expired on May 16, allowed Russian crude oil and petroleum products loaded onto vessels as of April 17, 2026, to be delivered.

This waiver was part of a series of short-term exceptions introduced to manage market disruptions amid global economic uncertainty, despite broader sanctions following Russia’s invasion of Ukraine. US officials affirm that the wider sanctions framework against Russian energy exports, including restrictions on shipping, financing, and price mechanisms, remains in effect. India, a major importer, had sought an extension of the waiver, with Russian crude flows to India reportedly around 2.3 million barrels per day in May 2026.