US Treasury Extends Sanctions Waiver for Russian Oil Loaded Before April 17

The US Department of the Treasury has extended a key sanctions waiver, allowing transactions involving Russian crude oil that was loaded onto vessels before April 17. The updated general license, published by the Office of Foreign Assets Control (OFAC), replaces a previous version dated March 19.

The license specifically permits the supply and sale of this oil. However, it explicitly excludes any transactions related to Iran, its government, or goods and services of Iranian origin.

This move continues a policy initiated in March when the United States first introduced a temporary authorization for deals with Russian oil already at sea. At that time, US Treasury Secretary Scott Bessent announced the measure as an effort to stabilize markets disrupted by conflict. The initial waiver was set to expire on April 11.

Secretary Bessent has previously estimated that exempting this specific Russian oil from sanctions could add hundreds of millions of barrels of crude to global markets. This follows earlier US permissions granted to India to purchase Russian oil already aboard tankers at sea.