Recent actions by the US Treasury Department have allowed limited operations involving two sanctioned oil tankers through January 8, 2024, under a general license framework. The permission is described as a narrow carve‑out intended to address urgent humanitarian and safety needs while maintaining pressure on the Russian energy sector. The scope of the license covers vitally important activities that support the wellbeing of crews and the continued maintenance of the ships in question, within strict regulatory guardrails. These allowances are not blanket exemptions; they reflect a calibrated approach designed to minimize disruption to maritime safety and crew welfare while reinforcing the policy objective of constraining Russian oil sales. [citation: US Treasury general license documentation]
The document specifies that the oil tankers SCF Primorye, flying the Liberian flag, and Yasa Golden Bosphorus, registered under the Marshall Islands flag, were permitted to undertake certain operations. These include providing medical care to crew members, ensuring crew safety, facilitating docking and berthing, and supporting routine repairs. Such activities are treated as essential to preventing a maritime emergency and preserving the integrity of crew health in a period of heightened sanctions enforcement. These allowances are tightly bounded to prevent any broader evasion of sanctions, and they are subject to ongoing monitoring by the relevant authorities. [citation: sanctions licensing notice]
Previously, U.S. officials imposed restrictions on two companies for alleged violations of established prohibitions on the sale of Russian crude. The actions reflect a broader pattern of intensified enforcement intended to close loopholes and deter entities from attempting to bypass the price cap regime. This tightening of measures signals a continued commitment to pressure points within the Russian oil market while acknowledging practical needs that arise in maritime operations involving sanctioned assets. [citation: Treasury enforcement actions]
In mid‑October, financial news outlets reported a statement from U.S. Treasury Secretary Janet Yellen noting preparations to strengthen sanctions on Russia’s oil sector to curb attempts at price cap evasion. The remarks underscore a strategic aim: to prevent sanctioned oil from finding ways to circumvent the price cap mechanism while maintaining strict supervision of maritime activities connected to restricted trade. The coverage cited official comments and aligned with prior policy communications about enhancing the effectiveness of the sanctions program. [citation: Wall Street Journal report on Yellen remarks]
Earlier, the U.S. Treasury extended sanctions related to Russia, reaffirming the government’s position on the broader economic consequences of Moscow’s policies. The expansion of these measures reflects an ongoing effort to tighten financial and trade constraints, limiting the ability of sanctioned entities to access international markets and financial systems. The overall objective remains to apply continuous pressure on Russia’s energy revenues while attempting to maintain a functioning maritime framework where safety and humanitarian considerations require exceptions, under strict oversight. [citation: Treasury sanctions extension notice]