The US Treasury Department has issued a temporary license allowing the sale of Russian oil that is already loaded onto vessels at sea. The 30-day authorization addresses oil shipments that were in transit when sanctions took effect. The measure provides a brief window for resolving the status of stranded Russian crude.
The decision comes amid ongoing sanctions against Russian energy exports following the invasion of Ukraine. Oil tankers carrying Russian crude have been left in legal limbo, unable to discharge their cargo at intended destinations. The temporary license aims to prevent maritime and environmental complications from vessels unable to offload their cargo.
The 30-day timeframe provides limited relief for an estimated dozens of tankers carrying Russian oil worth hundreds of millions of dollars. These vessels have been floating at sea, creating logistical challenges for global shipping routes. The authorization does not extend to new Russian oil purchases or shipments.
The temporary measure is expected to help clear maritime traffic while maintaining the broader sanctions framework. Oil companies and shipping firms will need to act quickly within the 30-day window. The decision may set precedent for how similar sanctions-related shipping issues are handled in the future.