US Treasury Lets Russia Oil Sanctions Waiver Lapse Amid Hormuz Crisis

🛢️ SANCTIONS — Russia's oil waiver just lapsed while Hormuz is already shut. 📌 LOOK CLOSER: With Hormuz blocking ~4M bpd and Brent at $108, letting the Russia waiver lapse pulls a second supply lever at once. Buyers relying on Russian crude face a compliance squeeze, draining the same depleted alternatives. For Tehran, it reduces Washington's pricing flexibility and extends the economic pain Europe and Asia absorb waiting for a deal.