US OFAC licence cover expires for Russian oil cargoes loaded on or before 17 April
Oil traders and vessel-service teams lose OFAC licence cover after 16 May
Change
US OFAC General License 134B authorised sale, delivery and offloading transactions for Russian-origin crude oil and petroleum products loaded on vessels on or before 17 April 2026 only through 16 May 2026.
Why it matters
The licence was a temporary authorization, not a continuing exemption. After the 16 May expiry, covered Russian-origin cargo transactions and related vessel services no longer fall within General License 134B. Operators must separate cargoes covered by the licence window from activity requiring separate OFAC authorization.
Implications
- — Oil traders and refiners handling Russian-origin crude or petroleum products loaded on or before 17 April 2026 must stop relying on General License 134B after 16 May — the licence no longer authorises sale, delivery or offloading transactions.
- — Shipping, insurance, bunkering, flagging and vessel-management teams servicing covered cargoes must confirm separate authorization before continuing support — General License 134B’s service cover expired with the cargo authorization.
Who is affected
- — Oil traders and refiners handling Russian-origin crude or petroleum products covered by General License 134B
- — Shipping, insurance, bunkering, flagging and vessel-management teams supporting covered Russian-origin cargoes
- — Sanctions compliance teams responsible for OFAC authorization checks on Russian-origin oil cargoes
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