The U.S. and Britain Are Introducing Exceptions to Restrictions on Russian Oil

The United States and the United Kingdom have eased some restrictions related to Russian oil and petroleum products in an effort to prevent disruptions to the physical market and secure supplies for countries most vulnerable to energy shortages.

U.S. Treasury Secretary Scott Bessent said the department is issuing a temporary 30-day general license that will allow the most vulnerable countries to access Russian oil currently stranded at sea.

“The U.S. Treasury is issuing a temporary 30-day general license so that the most vulnerable countries can temporarily access Russian oil that is currently stranded at sea,” Bessent wrote.

According to him, the extension is intended to provide additional flexibility, while U.S. authorities will work with those countries on issuing separate licenses if necessary. Bessent said the measure would help stabilize the physical crude oil market and ensure fuel supplies reach the countries most vulnerable to energy disruptions.

The U.S. Treasury secretary also said the license is intended to help redirect existing supplies toward countries that need them most, while simultaneously limiting China’s ability to accumulate discounted Russian oil reserves.

The United Kingdom adopted a separate measure. According to a notice issued by the Office of Financial Sanctions Implementation (OFSI), London has indefinitely authorized the import of diesel fuel and jet fuel produced from Russian oil in third countries.

The license will take effect on May 20, 2026, and does not have a fixed expiration date. However, the document will remain subject to review by the Home Office. The home secretary will retain the authority to amend, suspend, or fully revoke the license at any time. In the event of cancellation, authorities say they intend to provide advance notice — tentatively around four months.

As a result, Washington and London have effectively introduced limited exemptions to the sanctions regime surrounding Russian oil. In the United States, the move concerns temporary access to oil already at sea for vulnerable countries. In the United Kingdom, it involves a long-term authorization to import certain petroleum products made from Russian crude outside Russia.