Business & Economics

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U.S. Issues Third 30-Day Waiver for Seaborne Russian Oil Amid Hormuz Blockage

On 18 May 2026, Treasury Secretary Scott Bessent reversed course again and granted a third one-month general license allowing countries to purchase Russian oil already loaded before 17 Apr 2026, arguing the Iran-triggered closure of the Strait of Hormuz left “energy-vulnerable” nations short of supply.

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