Episode Details

Trump Administration Allows Russian Oil Purchases, Despite Criticism

The Trump administration has let a sanctions waiver expire, allowing countries like India to continue buying Russian oil. This decision comes after Treasury Secretary Scott Bessent declined to renew the general license for these purchases. Some lawmakers, like Senators Shaheen and Warren, had opposed renewing the waiver, arguing it funded Russias war in Ukraine without lowering gas prices for Americans. Earlier efforts to control energy prices included tapping the Strategic Petroleum Reserve and temporarily waiving the Jones Act shipping rule. President Trump also discussed potentially lifting sanctions on Chinese companies buying Iranian oil with President Xi Jinping.

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