05/18/2026
This helps India mostly. China is not approved, but anyway buys ~1.5 million barrels/day, plus gasoline, and Europe has been buying from Russia through the war while pushing us to fight Russia harder. The effect, mostly, is to make Russian oil more expensive in China. We sell chemical equipment, mostly dealing with hydrogen
The U.S. has issued a new 30-day waiver allowing countries to buy Russian oil cargoes stranded at sea, marking the third time Washington has eased restrictions on Moscow’s crude exports since the outbreak of conflict with Iran.
