United States OFAC authorizes Russian crude shipments to India for 30 days
Change
United States OFAC issued a 30-day licence allowing Indian buyers to take delivery and sale of Russian-origin crude sitting on tankers, including cargoes blocked by other sanction regimes.
Why it matters
The licence temporarily removes immediate US sanctions risk for specified transactions, narrowing enforcement options to deter purchases of those barrels. That relief lowers short-term supply pressure for refiners able to accept floating cargoes while leaving broader sanction regimes and future enforcement uncertain.
Implications
- • Indian refiners' crude procurement and operations teams must schedule offloading and processing of eligible tanker cargoes promptly to utilise the licence.
- • Owners and operators of tankers carrying Russian-origin crude loaded on or before March 5, 2026 must reroute those vessels to Indian ports and complete sale settlements before the licence expires.
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