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U.S. Lets Russian Oil Sanctions Waiver Expire, Fuels Price Surge

4/13/2026

46 6 Full Breakdown

Summary

Story summary

The United States allowed a sanctions waiver for Russian oil to expire, triggering uncertainty.
The waiver ran March 12 to April 11 and aimed to avert shortages amid the war in Iran.
Reports indicated the administration of U.S. President Donald Trump considered extending the waiver to stabilize prices, but no decision was made.
Oil prices have risen over 50% since February, while Asia seeks alternative oil suppliers amid the lapse.

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Story summary

The United States allowed a sanctions waiver for Russian oil to expire, triggering uncertainty.
The waiver ran March 12 to April 11 and aimed to avert shortages amid the war in Iran.
Reports indicated the administration of U.S. President Donald Trump considered extending the waiver to stabilize prices, but no decision was made.
Oil prices have risen over 50% since February, while Asia seeks alternative oil suppliers amid the lapse.