.@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime.
To increase the global reach of existing supply, @USTreasury is providing a temporary…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 12, 2026
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.”
https://ofac.treasury.gov/recent-actions/20260312_33
The license helps avoid logistical disruptions in oil shipping by allowing previously loaded Russian cargoes to be sold, reducing the risk of stranded tankers and smoothing near-term crude supply flows.
The United States has issued a new sanctions-related general license allowing a temporary wind-down period for certain Russian oil cargoes already in transit.
According to a notice published on the U.S. Treasury Department’s website, the license permits the sale of Russian crude oil and petroleum products that were loaded onto vessels as of March 12. The measure provides a limited exemption from sanctions enforcement for cargoes that had already entered the shipping system before the new restrictions took effect.
The authorization allows those shipments to be sold and delivered until 12:01 a.m. Eastern Time on April 11, effectively giving traders and refiners a roughly one-month window to complete transactions involving the affected cargoes.