The United States will extend a sanctions waiver allowing temporary access to Russian seaborne oil for another 30 days, Reuters reported on Monday, May 18, citing a source familiar with the decision. The waiver had expired on Saturday and was extended after several countries requested additional time to purchase Russian oil amid disruptions linked to the war involving Iran and the closure of the Strait of Hormuz.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. According to Reuters, the exemption is intended to help “poor and vulnerable countries” facing supply shortages after access to Gulf oil supplies was disrupted. The source did not identify the countries that requested the extension. US Treasury confirms temporary extension Later Monday, US Treasury Secretary Scott Bessent confirmed the move in a post on X. “The US Treasury is issuing a temporary 30-day general license to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea,” Bessent wrote. He said the extension would provide “additional flexibility” while Washington works with affected countries on specific licenses if needed. According to Bessent, the measure is also aimed at stabilizing global crude markets and ensuring oil supplies reach energy-vulnerable countries. “It will also help reroute existing supply to countries most in need by reducing China’s ability to stockpile discounted oil,” he added.