U.S. extends waiver for certain Russian oil cargo transactions
(WO) — The U.S. Department of the Treasury has extended a sanctions waiver allowing certain transactions involving Russian-origin crude oil and petroleum products loaded prior to April 17, 2026, providing additional flexibility for cargo deliveries amid ongoing disruption in global oil markets.
The Treasury Department’s Office of Foreign Assets Control (OFAC) issued General License 134C on May 18, replacing the previous General License 134B, which expired May 16.
Under the updated waiver, transactions “ordinarily incident and necessary” to the delivery, sale or offloading of Russian crude oil and petroleum products loaded onto vessels on or before April 17 are authorized through June 17, 2026.
The authorization also applies to vessels blocked under existing Russia-related sanctions programs and includes services tied to vessel operations and cargo handling, including docking, anchoring, bunkering, insurance, classification, salvage and emergency repairs.
The waiver does not authorize transactions involving Iran, Cuba, North Korea, certain occupied Ukrainian territories or entities owned or controlled by sanctioned parties in those jurisdictions, according to OFAC.
The move comes as global oil markets continue facing supply pressures tied to Middle East conflict, disruptions involving the Strait of Hormuz and broader volatility across global shipping and crude export flows.
Earlier Monday, Treasury Secretary Scott Bessent said the temporary extension was intended to help “the most vulnerable nations” maintain access to Russian oil cargoes already stranded at sea.
