The United States has issued its second authorization allowing buyers to take Russian oil cargoes already at sea, expanding the temporary waiver it granted to India (US Treasury Department, 12/03/2026).
- The US Treasury has also recently issued a license providing a temporary waiver for India, covering oil loaded before March 12 and valid for one month. The license applies to transactions involving Russian crude oil and petroleum products loaded onto vessels before 5 March 2026, provided the cargo is delivered to India and purchased by an Indian company. This measure expires on 4 April (KEI, 10/03/2026).
The new license authorizes the delivery and sale of Russian crude oil and petroleum products loaded on or before 12 March, remaining valid through midnight (Washington time) on 11 April 2026, according to the official document.
The Treasury Secretary stated that the action is intended as a “narrowly tailored, short-term measure” applying only to oil already in transit and not granting any significant financial benefit to the Russian government.
This move is part of a broader effort to stabilize surging crude and fuel prices caused by the war in the Middle East and the closure of the Strait of Hormuz. Meanwhile, the 32 member countries of the International Energy Agency (IEA) have agreed to release 400 mbl of oil from their emergency reserves to help ease recent market disruptions (KEI 13/03/2026).