The US Treasury has decided to extend a sanctions waiver allowing trade in Russian seaborne oil for another 30 days. The US Treasury has decided to extend a sanctions waiver allowing trade in Russian seaborne oil for another 30 days after several countries sought additional time to continue purchases.A tourist watches the MT Desert Kite oil tanker carrying Russian oil at Narara Marine National Park in the Arabian Sea, Gujarat, India, March 11 , 2026. (REUTERS)The previous waiver had expired on Saturday, the source added.The waiver will remain in place for another 30 days, the source said.Washington had introduced the exemption to ease oil supply concerns and rising prices after Iran closed the Strait of Hormuz during the US-Israeli offensive, though the move has done little to ease gasoline prices in the United States.Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.Read MoreUs TreasuryTradeGet the latest headlines from US news and global updates from Pakistan, Nepal, UK, Bangladesh, Russia, and get all the latest headlines in one place on Hindustan Times.See Less