The US Treasury Department’s Office of Foreign Assets Control (OFAC) has removed sanctions from select Russian-linked shipping entities and vessels, including some Russian-flagged ships involved in container and maritime operations.
Announced as part of recent delistings in March 2026, the action clears specific companies and assets from the Specially Designated Nationals (SDN) list. This allows previously restricted transactions with those parties, subject to other applicable rules.
What Does the OFAC General License Cover?
General License 134 temporarily lifts prohibitions on transactions “ordinarily incident and necessary” to the sale, delivery, or offloading of Russian Federation-origin crude oil and petroleum products. Key details include:
- Applicability: Applies to cargoes loaded on vessels on or before March 12, 2026 (12:01 a.m. EDT).
- Duration: Valid through April 11, 2026 (12:01 a.m. EDT).
- Scope: Covers dealings with blocked vessels under Russia-related sanctions programs, including services like:
- Vessel management, crewing, bunkering, piloting, registration, flagging, and insurance.
- Safe docking, anchoring, crew safety, emergency repairs, and environmental protection.
- Exclusions: Does not authorize new loadings, transactions involving Iran, or activities prohibited under other U.S. sanctions regimes.
This relief effectively allows Russian-flagged container ships and tankers already at sea to complete deliveries without facing immediate U.S. sanctions enforcement, including those previously blocked under the Russian Harmful Foreign Activities Sanctions Regulations and Ukraine-/Russia-Related Sanctions Regulations.
Background and Context
The decision comes amid volatility in global energy markets, with oil prices surging above $100 per barrel due to disruptions in the Middle East (including threats to tanker routes in the Strait of Hormuz). The Trump administration described the measure as a “narrowly tailored, short-term” step to increase supply availability and prevent further price spikes.
A similar, more limited authorization (General License 133) was issued earlier in March 2026 for shipments destined for India. GL 134 expands this to broader markets while emphasizing it applies only to “stranded” or in-transit cargoes—not new Russian oil exports.
U.S. sanctions on Russian maritime assets have been extensive since 2022, including port bans on Russian-affiliated vessels and designations of numerous tankers and operators involved in the “shadow fleet.” This temporary waiver represents a pragmatic adjustment rather than a broad rollback of sanctions policy.