The US Treasury has issued a temporary licence allowing the delivery and sale of Russian crude oil and petroleum products that were loaded onto vessels before 12:01 a.m. EDT on March 12, 2026.
Under General License 134, issued by the Office of Foreign Assets Control (OFAC) on March 12, transactions related to the sale, delivery or offloading of these cargoes are authorised until 12:01 a.m. EDT on April 11, 2026.
The authorisation covers activities necessary to complete the transport and discharge of the cargoes, including services such as vessel management, crewing, bunkering, piloting, insurance, classification and salvage.
It also permits operational activities required for the safe docking or anchoring of vessels carrying the oil and for emergency repairs or environmental protection measures.
However, the licence does not authorise any other transactions prohibited under existing sanctions frameworks, including activities involving Iran or Iranian-origin goods and services.
The measure effectively provides a 30-day window for Russian oil cargoes already in transit when the sanctions tightened to be delivered and sold.
