US poised to extend Russian oil waiver amid energy crisis. The Trump administration is expected to approve an extension of sanctions relief allowing limited Russian oil purchases, according to sources. Treasury Secretary Scott Bessent met with President Trump to discuss the measure, which aims to stabilize global energy prices during the Iran conflict. The original waiver, set to expire April 11, would release roughly 100 million barrels of Russian crude into markets. Oil prices have surged following partial closure of the Strait of Hormuz, which handles approximately 20 percent of global daily oil shipments. The International Energy Agency describes the conflict as creating the largest oil supply disruption in history.
