US authorizes sale of pre-sanction Russian oil

The US Treasury has officially extended the license, confirming the continuation of the temporary authorization window.

The message confirms the authorization period extends until May 16.

The update adds that the extension was announced on a Friday night and directly contradicts a statement made by Treasury Secretary Bessant two days prior.

The Treasury reversed a prior announcement by Secretary Bessent and extended the waiver through May 16.

The message adds context that the reversal may be linked to the ongoing Iran blockade and global oil market pressures to prevent a price spike.

The exemption now explicitly covers oil and petroleum products loaded onto tankers before April 17, with authorization extended until May 16.

The waiver has been extended for an additional 30 days, with the situation in the Strait of Hormuz cited as the reason.

The message adds that the waiver was extended to ease shortages from the Iran war and that it contradicts recent statements by Treasury Secretary Scott Bessent.

The extension is specifically under general license 134B, which authorizes delivery and sale of Russian oil loaded on vessels as of April 17, 2026.

The message provides additional details about the waiver's specific terms (oil loaded until May 16) and confirms it applies to countries including India, while noting Iranian energy purchases remain restricted.

A new claim states the waiver extension will impact over 100 million barrels of oil in transit, according to a post by Dmitriev on Telegram.

The message specifies the waiver covers 100 million barrels of Russian oil, providing a concrete volume figure not mentioned in previous reports.

The waiver has been extended to May 16, specifically allowing already-shipped Russian oil to be sold, and the move reverses earlier signals of non-renewal.

The message adds that Treasury Secretary Scott Bessent had stated a few days ago that the waiver wouldn't be extended, making the extension a market surprise.

The Treasury Department specified that deliveries loaded before April 17 can be made until May 16, explaining the extension as necessary to maintain global market stability.

The license has been extended until May 16.