The US Treasury Department's Office of Foreign Assets Control issued General License 134B on 17 April 2026, authorising transactions tied to Russian crude oil and petroleum products loaded onto vessels from that date. The license runs through 16 May 2026. It replaces a previous waiver that expired on 11 April and reinstates a policy that Treasury Secretary Scott Bessent had publicly ruled out just 48 hours before its publication.
Bessent told reporters on approximately 15 April that the administration "will not be renewing the general license on Russian oil," citing the need for a consistent signal to Moscow amid the ongoing Iran war. The Treasury's reversal two days later — without a press conference or public explanation — drew immediate condemnation from Senate Democrats.
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