U.S. Temporary Waiver Potentially Frees 30 Tankers Carrying Russian Oil
The March 13 update said the ships, loaded with at least 19 million barrels of Russian crude and 310,000 tons of refined products, were in Asian waters or heading toward Singapore and Malaysia.
Summary
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Terms & Concepts
Purchase waiver: A temporary exemption that allows specific transactions or purchases despite broader restrictions or sanctions.
Refined products: Petroleum goods processed from crude oil, such as diesel or fuel oil, that can be traded separately from raw crude.
Crude oil cargo: Unrefined petroleum transported by tanker for sale, storage, or processing at refineries.