The United States has temporarily relaxed some sanctions on Russia to allow Russian crude oil currently stranded at sea to be sold to India.
In a statement released on Thursday, the US Treasury Department’s Office of Foreign Assets Control announced a special licence permitting the delivery and sale of crude oil and petroleum products of Russian origin that had already been loaded on vessels as of March 5, 2026.
According to the Treasury, the authorization covers transactions involving such cargoes—including shipments on vessels affected by different sanctions regimes—and will remain valid until April 3, 2026.
US Treasury Secretary Scott Bessent explained that the short-term waiver was introduced to maintain stability in the global energy market.
He said the move was designed “to enable oil to keep flowing into the global market,” noting that the measure would not significantly benefit the Russian government because it only applies to oil shipments already stranded at sea.
Bessent added that the decision would help reduce pressure caused by Iran’s attempts to disrupt global energy supplies. This comes despite India previously stating it would gradually halt purchases of Russian oil as part of a trade agreement with the United States.
In November, US President Donald Trump imposed sanctions on major Russian oil companies Lukoil and Rosneft as part of efforts to increase pressure on Moscow over its invasion of Ukraine.
The sanctions—considered among the strongest measures taken by the Trump administration against Russia in relation to the war—forced many major buyers of Russian crude to seek alternative suppliers.
Meanwhile, Russia has reportedly assembled a fleet of aging oil tankers with unclear ownership structures to bypass sanctions imposed by the United States, the European Union, and the G7 following its full-scale invasion of Ukraine in 2022.
