The President of the United States (US), Donald Trump, has temporarily allowed certain Russian oil shipments to be sold following the issuance of General License 134 by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).
In a notice dated March 12, 2026, the license authorizes transactions necessary for the sale, delivery, or offloading of crude oil and petroleum products of Russian origin that have already been loaded onto vessels.
“The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 134, ‘Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 12, 2026’,” read part of the notice.
These transactions are permitted until April 11, 2026, allowing companies to complete deliveries that were already in transit when the measure was issued.
This comes amid claims that Russia is helping Iran fight the US in the ongoing war involving Iran, the US, and Israel.
Trump Temporarily Lifts Some Russian Oil Sanctions
According to Trump, under the new authorization, companies are allowed to carry out activities that are related to transport and deliver the cargo.
These include vessel docking and anchoring, ensuring the health and safety of ship crews, emergency repairs, and environmental protection measures.
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Additionally, related services such as vessel management, crewing, bunkering, piloting, registration, insurance, classification, and salvage operations are permitted to complete the shipments.
The license applies to crude oil and petroleum products originating from the Russian Federation, including those produced by entities already sanctioned under U.S. regulations related to Russia’s foreign activities and the conflict in Ukraine.
However, the Treasury noted that the measure does not authorize broader sanctions relief or any transactions involving Iran or Iranian goods and services prohibited under existing sanctions regulations.
US Allows India to Buy Oil and Petroleum Products from Russia for One Month
Trump previously issued India a 30-day waiver allowing refiners to purchase Russian oil after removing a 25% tariff penalty on India for buying Russian energy.
Indian refiners were forced to curtail their relationships with Russian suppliers earlier last year after the US Treasury Department imposed sanctions on energy giants Rosneft and Lukoil.
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According to US Treasury Secretary Scott Bessent, the move is expected to help stabilize global energy markets following US-Israeli strikes on Iran.
“To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea,” said Bessent.
