Panamanian-flagged ship Tiger Wings, carrying crude oil from Russia, is moored off the Petron oil refinery in Limay, Bataan province, Philippines, on April 1, 2026. Ezra Acayan/Getty Images
The Trump administration renewed a key sanctions waiver on April 17, allowing countries to purchase Russian oil stranded at sea, responding to urgent pressure from Asian nations battered by skyrocketing energy costs.
The move also reverses a position Treasury Secretary Scott Bessent had stated two days earlier.
