Azernews.Az

By Alimat Aliyeva

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has issued a license allowing the sale of Russian oil and petroleum products that had already been loaded onto ships before March 12, 2026, AzerNEWS reports.

According to the document, General License No. 134 authorizes the supply and sale of crude oil and petroleum products of Russian origin that were loaded onto vessels as of March 12, 2026. The license is valid from March 12 to April 12.

U.S. Treasury Secretary Scott Bessent emphasized that the permit applies only to oil that is already in transit and does not allow new shipments to be loaded. The goal of this decision is to prevent disruptions in global fuel supplies and reduce potential volatility in international energy markets.

“This narrowly targeted short-term measure will not provide significant financial benefits to the Russian government,” Bessent wrote on the social network X.

Earlier, on March 5, the United States granted India a 30-day license to purchase Russian oil that had already been loaded onto tankers before the restrictions took effect.

Analysts note that such temporary licenses are often used to avoid sudden supply shocks in global energy markets. By allowing already-shipped cargoes to reach their destinations, regulators try to balance sanctions policy with the need to maintain stability in oil prices and international trade flows.