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ARTICLE · 30 MARCH 2026

OFAC Issues Amended General License 134A Authorizing Temporary Wind‑Down For Certain Russian Oil Cargoes

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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On March 19, 2026, OFAC issued the amended General License 134A ("GL 134A"), superseding the previous General License 134, which created a narrow authorization for the sale, delivery...

GlobalInternational Law
Jonathan Cross
Jonathan Cross
Christopher Boyd
Christopher Boyd
Yash Dattani
Yash Dattani
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This post has been updated to reflect OFAC’s issuance of amended General License 134A on March 19, 2026, which supersedes and replaces General License 134. 

Overview

On March 19, 2026, OFAC issued the amended General License 134A (“GL 134A”), superseding the previous General License 134, which created a narrow authorization for the sale, delivery, and offloading of Russian‑origin crude oil and petroleum products that were already loaded onto vessels on or before 12:01 a.m. EDT, March 12, 2026. This authorization continues to remain in effect until 12:01 a.m. EDT, April 11, 2026.

GL 134A is seemingly designed to prevent immediate disruptions in the global oil supply chain by allowing the completion of transactions involving Russian‑origin cargoes that were already in transit prior to March 12. OFAC’s issuance comes during a period of heightened global energy volatility, with reports noting significant price pressure following intensified conflict involving Iran. Following news

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