However, the decision has angered several European governments and officials within the European Union.
Many EU leaders have spent years attempting to reduce dependence on Russian fossil fuels following Moscow’s invasion of Ukraine in 2022.
European officials fear that easing restrictions now could strengthen Russia economically at a critical moment.
Valdis Dombrovskis publicly criticized the US move, stating that this is not the right time to reduce pressure on Russia.
According to EU officials, Russia has benefited enormously from rising global energy prices, particularly during periods of geopolitical conflict.
The criticism highlights growing divisions between the United States and some European allies over how to balance economic stability with geopolitical strategy.
While Washington prioritizes preventing a global energy crisis, European leaders remain focused on maintaining financial pressure against Moscow.
Data from the Finnish research organization Centre for Research on Energy and Clean Air showed that Russian fossil fuel export revenues reached approximately €733 million per day in April 2026, the highest level recorded in over two years.
The figures underline how rising oil prices continue to strengthen Russia’s economy despite Western sanctions.
Meanwhile, Fatih Birol warned that global oil inventories are shrinking rapidly due to ongoing uncertainty surrounding Middle Eastern shipping routes.
Analysts fear that another disruption near the Strait of Hormuz could send oil prices soaring again, potentially triggering broader economic instability.
As the June 2026 G7 summit approaches, global leaders face mounting pressure to find a balance between energy security, inflation control, and geopolitical objectives.
The debate over Russian oil sanctions is likely to remain one of the most contentious issues shaping international economic policy in the months ahead.