US Secretary of State Marco Rubio has signalled that Washington wants to end the temporary waivers allowing Russian oil sales “as soon as possible”, stressing that the decision ultimately lies with the Treasury Department. The current waiver, extended in May, is due to expire on 17 June, and Rubio’s remarks highlight a hardening stance amid global energy disruptions.

US Secretary of State Marco Rubio told the Senate Foreign Relations Committee that the United States would prefer to terminate its extension of waivers on Russian oil swiftly, while acknowledging that the Treasury Department holds the final authority.

He explained that the continuation of waivers depends on prevailing circumstances in global energy trade and broader policy considerations. Rubio emphasised that the underlying policy of the United States has been to sanction Russian oil, and that the waivers were only time-limited measures intended to open up more global supply.

His comments come against the backdrop of ongoing Western sanctions targeting Russia’s energy sector following the Ukraine conflict. Washington has been reviewing temporary exemptions aimed at stabilising global oil supply, which has faced major disruption since the outbreak of the West Asia conflict.

The blockade of the Strait of Hormuz, a critical maritime route, further complicated the situation, choking off nearly 40 per cent of South Asia’s traditional energy shipping routes.

Last month, US Treasury Secretary Scott Bessent announced a temporary 30-day general licence to allow vulnerable nations to access Russian oil stranded at sea. He explained that the extension would provide flexibility, stabilise the physical crude market, and ensure oil reaches the most energy-vulnerable countries.

Bessent also noted that the measure would help reroute supply to nations most in need while reducing China’s ability to stockpile discounted oil. This announcement followed the expiry of the previous waiver on 16 May, which had initially been granted in March to buffer global fuel supplies by permitting transit-bound cargoes to reach international buyers despite sanctions.

The waiver has already been extended three times since the West Asia conflict began on 28 February. Rubio defended the initial rollout of the waivers as an essential mechanism to prevent global economic panic and spiralling fuel costs.

He conceded that while the US economy does not rely on these exemptions, other energy-dependent economies, particularly India, have benefited significantly. India, the world’s third-largest oil buyer, was forced to pivot back to Russian seaborne tankers to avoid a domestic fuel crisis after the Gulf blockade. Prior to the conflict, India had agreed to halt Russian oil purchases in exchange for the US removing an additional 25 per cent tariff on Indian imports.

However, the emergency waivers reopened access, and India has since increased imports from alternative suppliers such as Venezuela, with May purchases rising to 420,000 barrels per day compared to 283,000 barrels per day in April.

Democratic ranking member Jeanne Shaheen pressed Rubio during the hearing for a firm commitment that the waiver would not be extended further. Rubio reiterated that the decision rests with the Treasury and depends on market circumstances, but his remarks underscored a clear intent to end the waivers once conditions permit.

The current extension is scheduled to expire on 17 June, leaving open the question of whether Washington will renew it again or enforce a stricter sanctions regime.

ANI