US renews waiver for countries including India to buy Russian oil, 2 days after saying it won't

The US Treasury Department extended a sanctions waiver for countries, including India, to buy Russian oil stranded at sea, two days after Treasury Secretary Scott Bessent said the waiver wouldn't be renewed. The waiver has now been extended till May 16 after the previous waiver expired on April 11. The renewal came hours after Iran opened the Strait of Hormuz.