The Trump administration has issued a temporary waiver easing sanctions on Russian oil purchases, the latest escalation in the economic fallout from the US-Israel war with Iran that has disrupted global energy markets.
What the Left Is Saying
Progressive Democrats and Ukraine's allies have condemned the decision as harmful to Ukrainian war efforts and a concession to Moscow. Former Moscow-based financier Bill Browder, who led a campaign to impose sanctions on top Russian officials accused of corruption, told the BBC the move was "a terrible decision that will enrich Putin and prolong the war in Ukraine".
Ukrainian President Volodymyr Zelensky has yet to comment on the latest announcement, but said on Tuesday that easing sanctions would be a "serious blow" for Ukraine and amount to a "concession" to Russia that would allow Moscow to buy more weapons. Congressional Progressive Caucus leaders have warned that the administration's escalating military posture raises serious War Powers Act concerns.
French President Emmanuel Macron said the Strait of Hormuz's shutdown "in no way" justified lifting sanctions on Russia. He is due to meet Zelensky in Paris to discuss ways of increasing pressure on Moscow, with the Elysee Palace saying the two presidents would focus on how to help Kyiv defend itself and counter Russia's shadow fleet of tankers used to transport sanctioned oil.
What the Right Is Saying
Conservative Republicans have largely supported the administration's approach to managing energy markets during the conflict. Treasury Secretary Scott Bessent framed the waiver as a necessary measure to promote "stability in global energy markets" and stressed it was a "short-term measure" that would "not provide significant financial benefit to the Russian government".
Bessent said the temporary increase in oil prices is a "short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term". The administration announced it would release 172 million barrels of oil from the strategic petroleum reserve on Wednesday.
Kirill Dmitriev, Russian President Vladimir Putin's economic envoy, said the US was "effectively acknowledging the obvious: without Russian oil, the global energy market cannot remain stable". He added that amid the growing energy crisis, further easing of restrictions on Russian energy sources appears increasingly inevitable.
UK Energy Minister Michael Shanks said Britain will not follow the US in easing sanctions on Russian oil. "What we absolutely can't have is Putin sitting in the Kremlin seeing this as a chance to invest in the war machine," he told BBC Radio 4's Today programme.
What the Numbers Show
Russia said it had about 100 million barrels of oil currently in transit under the temporary waiver. The waiver applies to "permit countries" and lasts until April 11.
Around a fifth of the world's oil usually passes through the Strait of Hormuz. Oil tankers stranded in the gulf, unable to traverse the narrow channel between Iran and Oman, has led to a growing supply crisis. Oil prices remain up around $100 a barrel despite the release of 400 million barrels announced by the International Energy Agency.
The IEA said on Wednesday it would release a record 400 million barrels of oil from global reserves. Colin Walker, transport lead at the Energy and Climate Intelligence Unit think tank, said the easing of sanctions was likely to have little impact on the price of oil and petrol. "Clearly Putin will benefit, but it's less clear that this is going to put any real downward pressure on UK pump prices," he said.
The Philippines gets around 95% of its crude oil from the Middle East. Japan, South Korea and Thailand have announced price caps on petrol.
The Bottom Line
The temporary waiver represents a delicate balancing act for the Trump administration as it manages dual crises — continuing pressure on Russia while addressing energy supply disruptions caused by the Iran war. The administration has also said it would begin escorting vessels through the Strait of Hormuz "as soon as it is militarily possible".
The UK and France have signalled they will not ease their own sanctions on Russia, creating potential friction with Washington. Foreign Secretary Yvette Cooper accused Russia and Iran of trying to "hijack the global economy" during a visit to Saudi Arabia, though she refrained from criticizing the US decision directly, describing it as a "specific, targeted issue".
What happens after April 11 will be significant — the waiver is explicitly temporary, and the administration will need to decide whether to extend it as the conflict with Iran continues. Ukrainian officials are expected to continue pressing for maintained sanctions pressure on Moscow.