The U.S. Treasury Department announced on Friday the issuance of the Office of Foreign Assets Control's (OFAC) General License 134B, extending until May 16 the authorization for transactions involving Russian oil that was already loaded onto vessels prior to the enforcement of sanctions.
This decision does not lift sanctions against Russia but provides a limited exception for shipments loaded by April 17, aiming to prevent disruptions in the volatile global energy market, according to reports by EFE.
This marks the second extension of its kind, following General License 134A, which was initially issued on March 19 and expired on April 11, covering shipments loaded before March 12.
Treasury Secretary Scott Bessent justified the move by stating, "The affected oil was already in transit, and the license would not offer Russia significant financial benefits as it pertains to previously produced and shipped cargoes."
This extension is particularly relevant for Cuba as the Russian tanker Universal, operated by the state-owned Sovcomflot and sanctioned by the U.S., the European Union, and the United Kingdom, is navigating from the Baltic to the Caribbean with an expected arrival to the island in late April.
The Universal crossed the English Channel on April 8, escorted by a Russian frigate, marking the second shipment of Russian crude to Cuba in less than a month. The first shipment arrived on March 31 when the tanker Anatoli Kolodkin—also from Sovcomflot and likewise sanctioned—docked at the port of Matanzas with approximately 730,000 barrels of crude, enough for merely seven to ten days of consumption.
The previous shipment was facilitated by a humanitarian exception directly authorized by the Trump administration, despite License 134A expressly excluding Cuba.
Jorge Piñón from the Energy Institute at the University of Texas suggested a high likelihood that the Universal’s final destination is indeed Cuba.
Russian Energy Minister Sergei Tsiviliov had announced the Universal's dispatch on April 2 during the Energoprom-2026 forum in St. Petersburg, declaring, "A Russian vessel broke through the blockade. A second ship is in the loading phase, and we will not abandon the Cubans."
Cuba has been experiencing a severe energy crisis since January 2026, exacerbated by the halt of Venezuelan supplies following Nicolás Maduro's capture and the suspension of Mexican shipments on January 27, which accounted for 44% of Cuba’s imports.
The island produces only about 40,000 barrels daily but requires between 90,000 and 110,000, leading to power outages lasting up to 30 hours daily and an electrical deficit exceeding 1,800 megawatts on average.
Meanwhile, the Trump administration has implemented other temporary relaxations of energy sanctions, including temporary authorizations for Iranian crude purchases and the suspension of maritime laws to expedite domestic oil transportation.
The new License 134B solely applies to shipments already loaded and excludes transactions with Iran unless specifically authorized, thus confining its scope within the general sanctions regime against Moscow.
Key Aspects of the U.S. Sanctions and Oil Trade
What is the purpose of the U.S. extending the license for Russian oil shipments?
The extension aims to prevent disruptions in the global energy market by allowing transactions of Russian oil already in transit, without offering significant financial benefits to Russia.
How does this extension affect Cuba?
The extension is crucial for Cuba as it coincides with the arrival of the Russian tanker Universal, potentially supplying much-needed crude oil amidst the island's severe energy crisis.
What is the scope of the new License 134B?
License 134B applies exclusively to shipments already loaded before the license issuance and excludes transactions with Iran unless given specific authorization.