The United States has quietly reversed course on Russian energy sanctions, issuing a fresh 30-day authorisation for the purchase and delivery of Russian crude and petroleum products — less than 24 hours after Treasury Secretary Scott Bessent publicly declared the licences would not be extended.
What OFAC issued
The Treasury’s Office of Foreign Assets Control published General Licence 134B on April 18, covering Russian-origin crude and petroleum products loaded onto vessels as of April 17, 2026. The licence permits their delivery and sale for 30 days, keeping sanctioned Russian barrels flowing through global markets.
“The US Department of the Treasury’s Office of Foreign Assets Control is issuing Russia-related General Licence 134B, authorising the delivery and sale of crude oil and petroleum products of Russian Federation origin loaded on vessels as of 17 April 2026.”
— US Department of the Treasury
A direct reversal
The decision stands in direct contradiction to remarks Bessent made at a White House briefing on April 16, where he stated that Washington would not be renewing the general licence on Russian oil. No explanation was offered for the apparent change of position.
This is not the first time the administration has extended relief on Russian energy. A prior exemption issued on March 13 covered Russian oil already loaded onto tankers at sea, with that waiver running through April 11. Bessent had sought to downplay the benefit to Moscow, describing the revenue as “insignificant” — roughly $2 billion.
Timeline
- March 13, 2026First sanctions exemption issued for Russian oil already loaded on tankers at sea.
- April 11, 2026First exemption expires.
- April 16, 2026Bessent states at a White House briefing the licence will not be renewed.
- April 17–18, 2026OFAC issues General Licence 134B — a new 30-day window for Russian oil purchases.