{"id":62072,"date":"2026-05-18T12:38:18","date_gmt":"2026-05-18T16:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-issues-temporary-russian-oil-waiver-amid-global-supply-crunch-citi-and-blackrock-strike-e15b-deal\/62072\/"},"modified":"2026-05-18T12:38:18","modified_gmt":"2026-05-18T16:38:18","slug":"u-s-issues-temporary-russian-oil-waiver-amid-global-supply-crunch-citi-and-blackrock-strike-e15b-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-issues-temporary-russian-oil-waiver-amid-global-supply-crunch-citi-and-blackrock-strike-e15b-deal\/62072\/","title":{"rendered":"U.S. Issues Temporary Russian Oil Waiver Amid Global Supply Crunch; Citi and BlackRock Strike \u20ac15B Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. Treasury issues a 30-day temporary license for Russian oil<\/strong> to stabilize the physical crude market and support energy-vulnerable nations.<\/li>\n<li><strong>Citigroup (<a href=\"\/stock\/C\">C<\/a>) and BlackRock (<a href=\"\/stock\/BLK\">BLK<\/a>) announce a \u20ac15 billion partnership<\/strong> focused on private lending in the European market.<\/li>\n<li><strong>U.S. officials deny reports of lifting Iranian oil sanctions<\/strong>, dismissing claims from Iranian state media as &quot;false&quot; while regional tensions persist.<\/li>\n<li><strong>The Nasdaq 100 Index fell 1%<\/strong> as energy supply concerns and geopolitical uncertainty weighed on high-growth technology sectors.<\/li>\n<li><strong>UK\u2019s Andy Burnham commits to maintaining current fiscal rules<\/strong>, triggering a rally in the British Pound (GBP) to its daily peak against the Dollar.<\/li>\n<\/ul>\n<h2>U.S. Treasury Issues Emergency Oil Waiver<\/h2>\n<p>The <strong>U.S. Treasury Department<\/strong>, led by Secretary <strong>Scott Bessent<\/strong>, has issued a <strong>temporary 30-day general license<\/strong> allowing for the access of Russian oil currently stranded at sea. The move is designed to provide &quot;additional flexibility&quot; to energy-vulnerable nations and stabilize a physical crude market currently under pressure from the ongoing conflict with Iran.<\/p>\n<p>Secretary <strong>Bessent<\/strong> noted that the waiver aims to <strong>reroute existing supply<\/strong> to countries most in need while simultaneously <strong>reducing China\u2019s ability to stockpile discounted oil<\/strong>. The Treasury indicated it would work directly with specific nations to provide additional licenses as needed to ensure global energy security during the 30-day window.<\/p>\n<h2>Geopolitical Tensions and Sanction Denials<\/h2>\n<p>Despite reports from Iranian state media suggesting the U.S. had agreed to lift oil sanctions during ongoing negotiations, <strong>U.S. officials have explicitly labeled these claims as false<\/strong>. The denial comes as <strong>Saudi sources<\/strong> reportedly told <strong>CCTV<\/strong> that Iran has offered to conditionally transfer enriched uranium to Russia, further complicating the diplomatic landscape.<\/p>\n<p>In the Middle East, high-level diplomatic meetings continue, with <strong>Iranian Foreign Minister Abbas Araghchi<\/strong> meeting with <strong>Pakistan&#39;s Interior Minister Mohsen Naqvi<\/strong> on Monday evening. The regional instability, combined with the U.S. stance on sanctions, contributed to a <strong>1% decline in the Nasdaq 100 Index<\/strong> as investors weighed the risks of prolonged energy supply disruptions.<\/p>\n<h2>Major Financial Partnerships and Corporate Updates<\/h2>\n<p><strong>Citigroup (<a href=\"\/stock\/C\">C<\/a>)<\/strong> and <strong>BlackRock (<a href=\"\/stock\/BLK\">BLK<\/a>)<\/strong> have struck a massive <strong>\u20ac15 billion partnership<\/strong> aimed at private lending in Europe. This strategic move is expected to significantly expand the footprint of both firms in the European private credit market, providing a new source of capital for regional businesses.<\/p>\n<p>In the technology sector, <strong>Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) AWS CEO<\/strong> addressed growing concerns regarding artificial intelligence, pushing back against &quot;AI job apocalypse&quot; warnings. Meanwhile, <strong>SpaceX<\/strong> reported that its <strong>Starship production pipeline<\/strong> is currently full, with plans to complete roughly <strong>10 more ships<\/strong> and five boosters this year, ensuring that potential launch setbacks do not result in major program delays.<\/p>\n<h2>UK Fiscal Policy and Currency Markets<\/h2>\n<p>The <strong>British Pound<\/strong> climbed to its daily peak against the U.S. Dollar following comments from <strong>Andy Burnham<\/strong>, who is increasingly viewed as a key figure in UK fiscal leadership. A spokesperson for Burnham confirmed he would <strong>not accept any modifications to the UK&#39;s existing fiscal rules<\/strong>, a stance that markets interpreted as a sign of fiscal stability.<\/p>\n<p>Analysts had previously warned that a shift in fiscal rules could lead to a sell-off in Sterling; however, Burnham\u2019s explicit commitment to <strong>Rachel Reeves\u2019<\/strong> current framework has temporarily eased market anxieties. In the U.S., legislative hurdles remain as <strong>Senator Thom Tillis<\/strong> reportedly signaled opposition to the GOP\u2019s new reconciliation bill, potentially complicating the domestic fiscal outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. Treasury issues a 30-day temporary license for Russian oil to stabilize the physical crude market and support 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