The U.S. Issues License Related to Russian Oil Sanctions

BlockBeats News, March 20, the U.S. Treasury Department announced the issuance of a new Russia-related General License, which mentions that it will allow the delivery and sale of Russian-origin crude oil and petroleum products that were loaded onto vessels prior to March 12. The authorization is valid until 12:01 a.m. Eastern Time on April 11, 2026.

Although the key terms remain consistent with the license issued earlier on March 12, Thursday's waiver explicitly excludes transactions involving North Korea, Cuba, and Crimea. The temporary easing of sanctions on Russian oil is part of the Trump administration's efforts to dampen energy prices driven higher by the Middle East conflict. (Jinse)