“More Than 100 Million Barrels of Oil Are in Transit.”

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has issued General License 134B, authorizing transactions involving Russian oil and petroleum products loaded onto vessels before April 17, 2026. Transactions for the sale, delivery, and unloading of such cargo are permitted through May 16.

The license also covers related operations—including vessel berthing, crew safety, emergency repairs, and insurance. It separately уточняет that the document may also apply to products of companies under sanctions.

Putin envoy Kirill Dmitriev said the extension lifts restrictions on more than 100 million barrels of Russian oil currently in transit. According to him, the decision was made despite the position of those he described as “warmongers.”