To ease the pressure affecting global energy markets and supply chains due to disruption in the Strait of Hormuz caused by Iran's attack on oil ships, the U.S. Treasury Department has authorized countries to buy sanctioned Russian oil and petroleum that have already been loaded on vessels bound for importing countries.
The Treasury's Office of Foreign Assets Control, or OFAC, said on Thursday that is has issued a Russia-related General License 134 "authorizing the delivery and sale of crude oil and petroleum products of Russian Federation origin loaded on vessels as of March 12, 2026."
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by Joji Xavier
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