Crude Oil Exports No Longer Require License
The Bureau of Industry and Security has announced that effective immediately a Department of Commerce license is no longer required to export crude oil. BIS will shortly be taking steps to amend the Export Administration Regulations to reflect this change. In the meantime, companies holding current licenses for crude oil exports should be aware of section 750.7(i) of the EAR terminating license conditions upon the termination of the requirement for the export license.
BIS states that crude oil is now classified as EAR99 and that most crude oil exports may now be made as NLR (no license required). However, exports to embargoed or sanctioned countries or persons, including persons subject to a denial of export privileges, continue to require authorization.