The US Treasury Department has issued a general license exempting shipments of Russian oil and petroleum products loaded onto vessels before March 12, 2026, from sanctions for 30 days. This was announced by Secretary of the Treasury Scott Bessent.
According to a document from the Office of Foreign Assets Control (OFAC), the waiver is valid until April 11, 2026. The measure allows purchasing countries (primarily India, but the license is broader and applies to any country) to purchase, deliver, and offload Russian oil already stranded at sea without the risk of secondary U.S. sanctions.
“To improve global availability of existing reserves, @USTreasury is providing temporary authorization allowing countries to purchase Russian oil currently stranded at sea,” Bessent wrote on social media Х.
According to US officials, the easing of restrictions will apply to a limited volume—approximately 100–120 million barrels of already loaded crude, which had previously been frozen due to sanctions risks. The Treasury Department emphasizes that the measure is strictly temporary and targeted and will not generate significant additional revenue for Russia, as the majority of oil revenue comes from production taxes, not from export transactions.
The decision was made amid a sharp rise in global oil prices following the escalation of the conflict with Iran, the closure of the Strait of Hormuz, and disruptions in supplies from the Persian Gulf. President Donald Trump previously stated that the US is prepared to temporarily ease some oil sanctions against a number of countries in order to stabilize the market and reduce fuel prices for American consumers.
It is still unclear whether the license will be extended beyond April 11 or expanded to cover new shipments of Russian oil. The White House emphasizes that all measures are necessary and temporary and are related solely to the current global energy crisis.