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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced Russia-related General License 133, which temporarily eases certain sanctions to allow the sale and delivery of Russian crude oil and petroleum products currently stranded at sea to Indian refiners.
The license specifically authorizes transactions involving Russian Federation-origin oil loaded onto vessels on or before March 5, 2026, with deliveries to India permitted through the end of the day on April 3, 2026.
This narrow, time-limited measure applies only to cargoes already at sea that have been affected by recent sanctions enforcement and market disruptions.
U.S. Treasury Secretary Scott Bessent stated: "To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.
This deliberately short-term measure will not provide significant financial benefit to the Russian government, as it only authorizes transactions involving oil already stranded at sea."
The decision comes in response to severe supply challenges stemming from the escalating conflict in the Middle East, including disruptions to shipments through key routes like the Strait of Hormuz due to the ongoing Iran-related crisis.
These interruptions have strained global oil availability, particularly for import-dependent nations like India, and risked sharp price spikes and delivery delays.
By facilitating the offloading of these pre-loaded, stranded cargoes, the waiver helps prevent immediate market volatility while preserving the integrity of broader U.S. sanctions on Russia's energy sector, which remain firmly in place to limit Moscow's revenues supporting its actions in Ukraine.
Indian refiners have reportedly begun securing prompt Russian crude volumes to address the supply crunch, with analysts noting that the measure will help mitigate potential energy shortages and stabilize prices in the near term.
This action underscores the U.S. commitment to balancing energy market stability with continued pressure on adversarial regimes, ensuring global supply chains remain resilient during periods of geopolitical tension.