US extends sanctions relief for Russian oil already at sea by 30 days as US-Iran standoff squeezes crude prices
Earlier, the US had granted an exemption from sanctions to India for buying Russian oil for a month beginning March 5.
The United States has extended by a month a waiver from sanctions on Russian oil already at sea, according to an official statement.
The US Department of Treasury issued an order on Monday extending the waiver from sanctions on Russian oil stranded at sea on or before April 17 through June 17.
"Effective May 18, 2026, General License No. 134B, which was dated April 17, 2026 and expired on May 16, 2026, is replaced and superseded in its entirety by this General License No. 134C," the order issued by the Office of Foreign Assets Control of the Department of the Treasury said.
Earlier, the US had granted an exemption from sanctions to India for buying Russian oil for a month beginning March 5. A few days later, a similar waiver was extended to several other countries, which ended on April 11.
The general license exempting India and other countries from sanctions on the purchase of Russian oil at sea was extended by a month on April 17.
The general licence issued by the US on Monday does not authorise any transaction involving a person, entity or joint venture located in Iran, North Korea, Cuba, or parts of Ukraine.
— With inputs from PTI
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