Germany's Chancellor Friedrich Merz has criticized the Trump administration's decision to temporarily lift sanctions on Russian oil, warning that easing restrictions undermines pressure on Moscow amid the ongoing Ukraine conflict. Merz said the decision, intended to ease soaring global energy prices caused by the US-Israeli war on Iran, was "wrong" and insisted that support for Ukraine must remain firm despite the Middle East crisis.
The waiver, announced by US Treasury Secretary Scott Bessent, allows countries to purchase Russian oil already at sea for 30 days. Washington framed the measure as narrowly targeted, claiming it would not significantly benefit Russia's government since most oil revenues are collected at the point of extraction. Still, critics in Europe, including Merz and French President Emmanuel Macron, argued the decision risks filling "Putin's war coffers" at a moment when Russian energy profits could finance further aggression.
Global oil markets remain volatile. Brent crude traded above $100 a barrel despite the waiver, as Iran's strikes in the Gulf and the near-closure of the Strait of Hormuz continue to disrupt flows. The International Energy Agency recently authorized the largest-ever release from strategic reserves (400 million barrels) to counter the historic supply disruption. Yet analysts warn the Middle East conflict, including Iran's mining of the strait, could drive prices even higher, with some forecasts pointing to $200 a barrel if tensions persist.