The US Treasury let its sanctions waiver for Russian seaborne oil expire on May 16, tightening enforcement and raising supply concerns that could ripple into crypto markets.

The United States has not issued an order extending authorisation to buy Russian oil after the sanctions exemption expired on 16 May.

The Trump administration let a waiver for Russian oil sales expire. This happened even as the Iran war caused worries about global oil supplies and rising fuel costs. The move…