US extends license for Russian oil transit via Kazakhstan

The Office of Foreign Assets Control has extended a license permitting the transit of Russian oil to China through Kazakhstan until March 19, 2027, according to the Kazakh Energy Ministry cited by Interfax-Kazakhstan.

“Following negotiations with OFAC, the license for the transit of Russian oil to China has been extended until March 19, 2027,” the ministry said in response to a media inquiry.

Earlier, on March 13, OFAC, which operates under the US Department of the Treasury, issued a general license temporarily easing sanctions on Russian energy exports. The measure allows the sale of Russian-origin crude oil and petroleum products, provided they were loaded onto vessels before March 12. The license is expected to remain valid until April 11.

According to Western media reports, Russian crude is currently being transported on 25 vessels. The US decision effectively exempted at least 19 million barrels of Russian oil and 310,000 tons of petroleum products from sanctions.

By Tamilla Hasanova