Treasury Ends Russian Oil Waiver, $100 Crude

US Treasury let the general license for Russian seaborne crude expire on 17 May 2026, ending the waiver.
The lapse follows a month‑long extension aimed at easing supply shortages after Iran closed the Strait of Hormuz.
Senators Shaheen and Warren opposed renewal, saying it funds Russia’s war and fails to lower US gasoline prices near $4.50/gal.
The decision comes as global oil benchmarks hover above $100 per barrel, with US retail fuel at 2022‑high levels.