The U.S. sanctions waiver allowing countries such as India to purchase Russian seaborne oil expired on Saturday, with the Trump administration having issued no notice of renewal. Previously, in response to concerns over oil supply shortages and high oil prices caused by Iran's closure of the Strait of Hormuz, the waiver had been extended for one month. Bessent previously stated that this waiver would not be extended further. The prior waiver and a series of measures taken by the Trump administration have had minimal effect in stabilizing U.S. gasoline prices. India is the largest consumer of Russian seaborne crude oil; following the issuance of the sanctions waiver, India’s purchases of Russian seaborne crude oil in April and May approached historic highs.
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Original article: toutiao.com/article/1865414283332618/
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