The Treasury Department extended a waiver allowing countries to purchase Russian oil through May 16, directly contradicting statements made days earlier by Treasury Secretary Scott Bessent, who announced the waiver would not be renewed amid Russia’s ongoing war with Ukraine.

Bessent Contradicted Days After White House Briefing

On Friday, the Treasury Department posted a license on its website authorizing the delivery and sale of crude oil and petroleum products from Russia. The waiver replaces one that expired on April 11 and excludes Iran, Cuba, and North Korea. The reversal came just two days after Bessent told reporters at a White House press briefing that the administration would not renew the general license on Russian oil.

A Treasury Department spokesperson explained the decision to Reuters, stating that as negotiations with Iran accelerate, the department wants to ensure oil remains available to those who need it. The waiver extension comes as oil markets face volatility from the U.S. and Israeli military operations against Iran, which led to the closure of the Strait of Hormuz and sent oil prices soaring.

Lawmakers Call Decision Shameful Amid Ukraine War

Senate Democrats immediately criticized the reversal. Senate Minority Leader Chuck Schumer, Senator Jeanne Shaheen, and Senator Elizabeth Warren issued a joint statement calling the Treasury Department’s decision shameful. The lawmakers pointed to Russia’s recent aerial attack on Ukraine, the largest of the year, which killed 18 people. The timing of the waiver extension drew particular scrutiny given the ongoing violence in Ukraine.

International Pressure From G20 Partners

According to a U.S. source speaking to Reuters, partner countries requested the waiver extension during recent Group of 20, World Bank, and International Monetary Fund meetings. Iran’s decision to reopen the Strait of Hormuz on Friday temporarily lowered oil prices before Tehran closed it again due to a U.S. maritime blockade on ships entering or exiting Iranian ports and coastal areas. The administration faces competing pressures between supporting Ukraine and managing global energy markets during heightened Middle East tensions.