United States issues 30-day waiver for Russian oil sales, excludes Cuba and North Korea
Change
The United States issued a new general license on March 19, 2026 replacing a March 12 waiver to permit sales of Russian-origin crude and petroleum products loaded aboard tankers as of March 12 while specifically excluding transactions involving Cuba, North Korea and Crimea; the license expires on April 11, 2026.
Why it matters
The waiver narrows the window of transactions that receive US licencing protection and imposes explicit jurisdictional exclusions that make certain counterparties ineligible. Market participants must now verify loading dates and counterparty ties before relying on US sanctions relief, increasing compliance and documentation burdens.
Implications
- • Commodity trading firms' sanctions compliance teams must verify and retain documentary evidence that Russian-origin cargoes were loaded on or before March 12, 2026 and must block transactions involving counterparties tied to Cuba, North Korea or Crimea or face loss of licence protection and sanctions exposure.
- • Tanker operators' operations and documentation teams must obtain, certify and retain loading records proving cargoes were loaded on or before March 12, 2026 or their voyages will not qualify for the general license.
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