US Treasury Issues Waiver Allowing Russian Oil Sales to Tame Surging Prices
On March 12, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 134, authorizing the delivery and sale of Russian crude oil and petroleum products loaded on vessels on or before 12:01 a.m. Eastern Time March 12, 2026, through midnight April 11, 2026. This 30-day waiver expands a […]
Maersk CEO Vincent Clerc Warns of Marine Fuel Shortages Amid Middle East Disruptions
Maersk CEO Vincent Clerc has warned that ongoing conflict in the Middle East, particularly disruptions linked to the Strait of Hormuz closure due to the Iran war, risks creating regional marine fuel shortages for shipping operations. In recent interviews (including with CNN, BBC, and Le Monde), Clerc stated there is sufficient global oil supply overall, […]