General License 134B (GL 134B) was issued by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on 17 April 2026. The licence is Russia-related and authorises certain limited transactions involving crude oil and petroleum products of Russian Federation origin.

GL 134B extends and replaces General License 134A. It authorises transactions that are ordinarily incident and necessary to the sale, delivery, or offloading of Russian-origin crude oil or petroleum products, provided that such products were loaded onto vessels on or before 12:01 a.m. EDT on 17 April 2026. The authorisation is temporary and remains valid through 12:01 a.m. EDT on 16 May 2026.

The licence applies to transactions involving covered cargoes, including those carried on vessels that may be blocked under relevant sanctions authorities, provided that the specified loading date condition is met.

OFAC states that authorised transactions include a range of ancillary activities ordinarily incident and necessary to the completion of authorised voyages. These include safe docking and anchoring, preservation of crew health and safety, emergency repairs or environmental mitigation, as well as vessel management, crewing, bunkering, piloting, registration, flagging, insurance, classification, and salvage services.

GL 134B does not authorise transactions involving persons located in, or organised under the laws of, Iran, North Korea, Cuba, or the Crimea, Donetsk, or Luhansk regions of Ukraine, nor entities owned or controlled by, or in joint venture with, such persons. The licence also does not override prohibitions under other US sanctions programmes not expressly referenced.

OFAC describes GL 134B as a temporary measure intended to allow for the orderly completion of existing shipments that were already loaded prior to the specified cut-off date. It does not create a general authorisation for new Russian oil exports.

It is important the EU and UK Price Caps and other relevant sanctions legislation remain unchanged.

A link to the GL134 can be found here: https://ofac.treasury.gov/recent-actions/20260417_33

 

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