U.S. extends sanctions waiver on Russian seaborne oil by 30 days

The latest “temporary 30-day general license” will “provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea,” Treasury Secretary Scott Bessent said in a social media post.

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Iran-Israel war LIVE: Iran submits new proposal, says U.S. open to sanctions relief

Iran’s top security body announced on Monday, May 18, the formation of a new body to manage the Strait of Hormuz, which Tehran has effectively closed and wants to charge ships to traverse.

U.S. Treasury to extend sanction waiver on Russian seaborne oil, source says

The waiver will last another 30 days and was ‌sought by several poor and vulnerable countries cut off from Gulf oil supplies by the Iran war ‌and the closure of the Strait of Hormuz, ‌the ⁠source said.

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