The United States Department of the Treasury, through its sanctions watchdog Office of Foreign Assets Control (OFAC), has issued General License 134, temporarily allowing transactions involving certain Russian crude oil shipments despite existing sanctions on Russia.
The move provides a limited window for the delivery and sale of Russian-origin crude oil and petroleum products that were already loaded onto vessels before March 12, 2026.
Temporary Relief for Oil Shipments
Under the license issued by the United States Treasury, transactions ordinarily prohibited under Russian sanctions will be permitted if they are incident and necessary to the sale, delivery, or offloading of Russian crude oil or petroleum products loaded on vessels on or before March 12. These activities can continue until 12:01 a.m. EDT on April 11, 2026.
The authorization effectively allows companies, shipping operators, insurers, and other service providers to complete transactions linked to these shipments without violating U.S. sanctions regulations.
Scope of Permitted Activities
The license clarifies that permitted transactions may include operational and logistical services necessary for shipping activities, such as safe docking and discharge of cargo; crew health and safety services; vessel management and bunkering; piloting, classification, and environmental protection services; and emergency repairs and salvage operations
These provisions ensure that vessels carrying Russian-origin oil already in transit can safely complete their journeys and unload cargo.
Restrictions Remain in Place
Despite the temporary authorization, OFAC emphasized that the measure does not remove or broadly lift sanctions on Russian oil trade. The license only applies to shipments loaded before March 12, 2026, and does not authorize any new transactions beyond those required to complete delivery.
The authorization also does not permit dealings involving Iran or Iranian-origin goods, which remain prohibited under separate sanctions regimes.
Signed by OFAC Director
The general license was issued on March 12, 2026, and signed by Bradley T. Smith, Director of the Office of Foreign Assets Control.
Compliance Window for Global Trade
The decision provides temporary regulatory clarity for global traders, shipping companies, and insurers handling Russian-origin oil already in transit. By allowing a defined compliance window, the U.S. aims to avoid disruptions to maritime safety and contractual obligations while maintaining the broader sanctions framework against Russia.
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