US Treasury Issues Temporary Authorization for Sale of Russian Oil Loaded on Vessels Before March 12
The US Treasury temporarily authorized the sale of Russian oil already loaded on ships before March 12, allowing transactions to continue until April 11 amid rising global energy prices.
ERBIL (Kurdistan24) - The United States Department of the Treasury announced a temporary authorization allowing the sale of certain Russian oil shipments already at sea, as global energy prices surged following the outbreak of war in the Middle East after US-Israeli strikes on Iran.
In a notice issued Thursday, the Treasury said the authorization allows the sale, delivery, or offloading of crude oil and petroleum products of Russian origin that had already been loaded onto vessels.
The authorization applies to shipments that were loaded on or before 12:01 a.m. Eastern Daylight Time on March 12, 2026.
According to the license, the permitted transactions will remain valid through 12:01 a.m. Eastern Daylight Time on April 11, 2026.
The decision was issued by the Treasury’s Office of Foreign Assets Control under General License 134, titled “Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 12, 2026.”
The license states that all transactions ordinarily necessary for the sale, delivery, or offloading of Russian crude oil or petroleum products loaded on vessels before the specified deadline are authorized during the temporary period.
The authorization applies even to shipments carried on vessels that may otherwise be restricted under existing sanctions authorities.
The notice references several US sanctions frameworks, including the Russian Harmful Foreign Activities Sanctions Regulations, Ukraine-/Russia-Related Sanctions Regulations, Iranian Transactions and Sanctions Regulations, Weapons of Mass Destruction Proliferators Sanctions Regulations, Iranian Financial Sanctions Regulations, Iranian Sector and Human Rights Abuses Sanctions Regulations, and Global Terrorism Sanctions Regulations.
It also cites multiple executive orders, including Executive Order 13876, Executive Order 13902, and Executive Order 13949, which relate to sanctions involving Iran and other international security concerns.
The move comes as global energy markets face heightened volatility following the escalation of conflict in the Middle East after military strikes by the United States and Israel against Iran.
The war has triggered sharp increases in oil prices and raised concerns about disruptions to global energy supply.
The temporary authorization reflects Washington’s attempt to manage market pressure and maintain energy flows while geopolitical tensions continue to escalate.