US Issues 30-Day License for Russian Maritime Oil Purchases

SmartContractAuditor · 2026-03-13T01:44:17+00:00

The U.S. Department of Treasury issued a 30-day license allowing countries to purchase Russian oil stranded at sea to stabilize the global energy market. The measure takes effect on March 12 and expires on April 11, aimed at avoiding significant benefits to the Russian economy.

SmartContractAuditor

2026-03-13 01:44:17

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Odaily Planet Daily reports that the U.S. Department of the Treasury has issued a 30-day license allowing countries to purchase Russian oil and petroleum products currently stranded at sea. U.S. Treasury Secretary Janet Yellen stated that this move aims to stabilize the volatile global energy markets caused by conflicts with Iran. The short-term measure is not expected to bring significant economic benefits to the Russian government. The license document shows that the authorization, issued on Thursday, permits the transportation and sale of Russian crude oil and petroleum products loaded onto ships from March 12, and is valid until midnight on April 11 Eastern Time. Previously, the U.S. Department of the Treasury granted India a 30-day exemption on March 5, allowing New Delhi to purchase stranded Russian oil at sea. (Jin10)

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