The US Treasury will extend its sanctions waiver on Russian seaborne oil, which lapsed on Saturday, after several countries asked for more time to buy it,

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.

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…