US Extends Waiver on Sanctions for Stranded Russian Oil
The US Department of the Treasury has granted a month-long extension to the sanction waiver on Russian oil stranded at sea until June 17. This move follows earlier exemptions provided to several countries, including India, allowing them to purchase Russian oil under certain conditions.
The United States has decided to extend the waiver from sanctions on Russian oil that remains stranded at sea, an official announcement revealed on Monday.
The US Department of the Treasury's Office of Foreign Assets Control has issued General License No. 134C, replacing the expired license 134B, effective from May 18, 2026. This extension will allow transactions involving Russian oil stranded at sea on or before April 17 to continue until June 17.
This follows an earlier waiver granted to India, allowing the purchase of Russian oil, which began in March, followed by a similar exemption for multiple countries, which concluded on April 11. However, the current license prohibits transactions with entities linked to Iran, North Korea, Cuba, or certain areas of Ukraine.
(With inputs from agencies.)
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