US to End Russian Oil Sanction Waiver by June 17

The United States intends to terminate temporary sanctions waivers that have allowed the purchase of Russian oil as soon as possible, Secretary of State Marco Rubio told lawmakers, though he noted the final decision rests with the Treasury Department. The announcement signals a potential tightening of enforcement against Russian energy revenues amid ongoing global supply disruptions.

Testifying before the Senate Foreign Relations Committee, Rubio stated the underlying U.S. policy remains the sanctioning of Russian oil. He described the waivers as a temporary, time-limited measure intended to open up global supply and alleviate market pressures, not a change in that core strategy. The current waiver is set to expire on June 17.

The U.S. first granted the waiver in March in response to significant supply disruptions stemming from a conflict involving Iran and the closure of the Strait of Hormuz, a critical maritime chokepoint for oil shipments. With Iranian barrels effectively locked out of markets, the administration temporarily relaxed enforcement to prevent crude prices from spiraling further. The waiver has been extended twice, each time for approximately one month.