Washington has extended its sanctions waiver for Russian oil cargoes at sea by 30 days. This move aims to help vulnerable nations access Russian oil amidst surging global energy prices. The temporary measure provides additional flexibility to stabilize the crude market. This is the second extension of the waiver, which was first issued in March.

The waiver, which allowed purchases of Russian oil stranded at sea, has expired as of 12:01 a.m. Eastern Daylight Time on May 16.

The expiration effectively ends for now a brief period where the administration eased sanctions on some Russian oil, enabling purchases that would otherwise be barred.

The waiver temporarily lifts sanctions on Russian oil for 30 days.