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What changed for Russian oil on 12 March 2026?
Summary
A look back at a temporary US sanctions easing on Russian oil cargoes, set against the war's strikes and Romania's basing decision.
What did Washington change for Russian oil on 12 March 2026? The United States treasury department issued a temporary licence allowing the delivery and sale of Russian oil and petroleum products that had been loaded onto vessels before that date. The easing applied to such shipments until 11 April and came amid rising global energy prices, in the context of the 2026 Iran war.
The step touched an existing system of restrictions. Since the start of Russia's full-scale invasion in 2022, the European Union, the G7 nations and Australia had imposed sanctions on Russia. Oil measures began in December 2022 and included an embargo on bringing Russian crude and refined products to the EU and other G7 nations by ship, with a few exceptions.
The fighting continued
The licence came as strikes continued on both sides. On 10 March, Ukrainian Special Operations Forces announced several overnight drone strikes on Russian electronic warfare stations and warehouses in Donetsk and Makiivka, in Donetsk Oblast. The same day, a Ukrainian missile attack on Bryansk, Russia, killed six people and injured 37, as reported at the time.
Iran war and Romania
The Iran war also shaped the security picture in the region. On 11 March, Romania authorised the United States to use its air bases to refuel aircraft and to deploy monitoring and satellite communications equipment in support of military operations linked to that conflict. The decision followed approval by the Romanian parliament and the Supreme Council of National Defence.
