The Trump administration on Friday reversed course and extended a waiver on sanctioned Russian oil and petroleum products amid the Iran war, just days after a top Cabinet official said the U.S. would not be doing so.

The U.S. Treasury Department has extended its pause on sanctions on Russian oil shipments to ease shortages from the Iran war, days after Secretary Scott Bessent ruled out such a move.

Trump's announcement raises questions about U.S. plans to waive sanctions on Russian oil, after the temporary waiver officially expired April 11.

The Trump administration has loosened restrictions on Russian oil exports since the war in the Middle East began to rattle energy markets in March.

The United States has sharply intensified its economic campaign against Iran, sanctioning a major Chinese refinery and dozens of shippers tied to Iranian oil while freezing $344 million in Iran-linked cryptocurrency. The move comes as Washington prepares a ...

Russia said on Friday that new European Union sanctions ‌on its oil and gas ‌would hurt developing countries and the EU itself, and ​promised to retaliate. The EU adopted a 20th package of sanctions against Russia over Moscow's war in Ukraine on Thursday,

Treasury Secretary Scott Bessent and Sen. Chris Coons clash over claims that Iran gained $14 billion from temporary U.S. sanctions relief on oil.

Brent crude futures had been trading above $100 earlier Friday after President Donald Trump said he wouldn’t be rushed to end the Iran war and that Americans should expect highe