The United States on Thursday, March 19, issued a new general license that replaces an earlier waiver that authorised the sale of Russian-origin crude oil and petroleum products loaded on tankers as of March 12, the US Treasury Department said in a statement.
The authorisation covers the delivery and sale of Russian crude oil loaded onto tankers as of March 12, 2026, under a temporary waiver framework. The measure replaces an earlier 30-day waiver issued the same day.
While the core terms remain largely unchanged, the updated license introduces explicit exclusions for transactions involving Cuba and North Korea, tightening compliance conditions.
The waiver permits only limited and time-bound transactions involving Russian oil, reflecting Washington’s calibrated approach to sanctions enforcement.
US Treasury allowed more russian oil sales earlier
Earlier, the US issued a second authorisation letting countries buy more Russian oil that’s stuck on tankers due to sanctions, part of the White House’s push to prevent prices from surging.
The temporary move, which widens a waiver given to India last week, only applies to oil already in transit and, as such, won’t provide significant financial support for the Russian government, Treasury Secretary Scott Bessent wrote in a social media post, according to a report by Bloomberg.
Historic disruption
According to a report by Bloomberg, the International Energy Agency estimated on Thursday that Middle East producers will cut their collective output by close to 250 million barrels this month, while shipments through Hormuz will decline by over 600 million barrels of crude and fuels.
Up to roughly one-third of the supply could, in theory, be rerouted through pipelines that avoid the affected waterway.
The US government has also taken multiple steps to cushion the impact of the disruption, which the International Energy Agency described as the largest supply shock in oil market history.
These measures include releasing 172 million barrels from the strategic petroleum reserve and considering additional options such as intervening in futures markets and waiving a century-old law requiring US-flagged ships to transport goods between domestic ports, according to a report by Bloomberg.
