OFAC Issues General License No. 134C Extending Authorization for Certain Russia-Origin Crude Oil and Petroleum Product Transactions
On May 18, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued General License No. 134C (“GL 134C”), further extending the temporary authorization for certain transactions involving crude oil and petroleum products of Russian Federation origin that were loaded onto vessels prior to a specified cutoff date. GL 134C replaces and supersedes General License No. 134B (“GL 134b”) in its entirety but replicates its substantive terms.
The extension comes as a result of earlier authorizations permitting transactions ordinarily incident and necessary to the delivery of Russian-origin crude oil and petroleum products that had already been loaded onto vessels on or before 12:01 a.m. EDT on April 17, 2026. GL 134C extends the deadline for completing authorized transactions from May 16 to 12:01 a.m. EDT on June 17, 2026.
Ancillary Transactions Authorized
Consistent with GL 134B, GL 134C also authorizes transactions that are ancillary to the sale, delivery, or offloading of covered Russian-origin crude oil or petroleum products. These activities include safe docking and anchoring, crew health and safety, emergency repairs, environmental mitigation, vessel management, bunkering, piloting, insurance, classification, and salvage services.
Exclusions and Prohibitions
GL 134C does not permit transactions involving persons located in, or organized under the laws of, Iran, North Korea, Cuba, or the Crimea, Donetsk, or Luhansk regions of Ukraine. Additionally, it prohibits transactions involving any entity that is owned or controlled by or in a joint venture with any such person.
The author acknowledges the assistance of Avi Toltzis in the preparation of this blog post.
Original Article: OFAC Issues General License No. 134C Extending Authorization for Certain Russia‑Origin Crude Oil and Petroleum Product Transactions — Bakermckenzie