USA permits sale and supply of Russian oil loaded onto vessels before March 12 for one month
he Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has released General License No. 134, which allows transactions related to the sale, supply, or offloading of crude oil and petroleum products of Russian Federation origin through April 11, 2026, provided they were loaded onto vessels before March 12, 2026.
According to the document, transactions that are ordinarily incident and necessary for such actions are permitted. This includes activities involving vessels carrying the relevant oil or petroleum products, even if those vessels are currently under sanctions.
"All transactions prohibited by the aforementioned authorities that are ordinarily incident and necessary to the sale, delivery, or offloading of crude oil or petroleum products of Russian Federation origin loaded on any vessel before 12:01 AM Eastern Daylight Time on March 12, 2026, are authorized through 12:01 AM Eastern Daylight Time on April 11, 2026," the license text specifies.
Specifically, the authorized operations may include the safe docking and anchoring of vessels, measures to ensure the health and safety of the crew, emergency repairs, environmental protection or mitigation actions, as well as services such as vessel management, crewing, bunkering, piloting, registration, flagging, insurance, classification, and salvage.
The document notes that the Russian-origin crude oil and petroleum products covered by this license may have been produced by entities sanctioned under the Russian Harmful Foreign Activities Sanctions Regulations. US Treasury Secretary Scott Bessent described the move as a "temporary measure" intended to stabilize global energy markets and address "stranded" oil at sea following recent disruptions in the Middle East, including the blockage of the Strait of Hormuz.
However, the license does not authorize other transactions or activities prohibited by separate executive orders or regulations, including those involving Iran.