This will ensure the most vulnerable countries have access to energy, Scott Bessent said

The Trump administration let a Russian oil sales waiver expire, then reversed course days later. Here's why crypto traders are watching the May 16 deadline.

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 waiver temporarily lifts sanctions on Russian oil for 30 days.

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…