US Grants 60-Day Waiver for Bangladesh to Import Russian Oil

The United States has granted Bangladesh a fresh 60-day sanctions waiver to import finished petroleum products from Russia.

The decision offers much-needed relief to the country’s fuel supply which has been under severe strain due to global energy disruptions.

The waiver, effective from April 11 to June 9, was formally communicated by the US Department of State to the Ministry of Foreign Affairs. This follows a more restrictive 30-day window in March that officials say provided little benefit as no ships were in transit at the time.

The Energy and Mineral Resources Division sought the waiver to stabilize domestic supply following the outbreak of war in Iran on February 28 which pushed global oil prices higher. Traditional Middle Eastern supply chains have faced significant stress, making Russian diesel a necessary alternative for Bangladesh.

Bangladesh aims to procure at least 10 lakh (1 million) tonnes of diesel from Russian sources during this period.

The Bangladesh Petroleum Corporation (BPC) is preparing to import an initial 1 lakh tonnes of diesel through a US-based company.

The move is seen as a bridge toward a permanent Memorandum of Understanding (MoU) for energy cooperation with the United States.

Unlike the previous "General License 134" which only allowed for cargoes already at sea, this new 60-day waiver allows Bangladesh to sign fresh contracts for Russian fuel. Officials noted that while US sanctions against Russia remain broad, this targeted waiver addresses the urgent energy security needs of a partner nation.

Yesterday, Russian Ambassador Alexander Khozin met with Energy Minister Iqbal Hasan Mahmud Tuku in Dhaka to discuss the logistics of the energy trade. The government plans to move quickly to finalize shipments before the window closes in early June.