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OFAC Issues Russia Oil License and Amends Venezuela Oil FAQ

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Published March 5th, 2026
Detected March 6th, 2026
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Summary

The US Department of the Treasury's OFAC has issued Russia-related General License 133, authorizing the delivery and sale of Russian crude oil loaded on vessels as of March 5, 2026, to India. OFAC also amended a Venezuela-related FAQ concerning the resale of Venezuelan oil to Cuba.

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What changed

OFAC has issued Russia-related General License 133, which authorizes the delivery and sale of crude oil and petroleum products of Russian Federation origin loaded on vessels as of March 5, 2026, to India. This license permits specific transactions related to Russian oil exports under certain conditions. Additionally, OFAC has amended Venezuela-related FAQ 1238, clarifying aspects of the resale of Venezuelan origin oil to Cuba.

Regulated entities involved in the energy sector, particularly those dealing with Russian or Venezuelan oil, must review General License 133 and the amended FAQ to ensure compliance with OFAC's sanctions programs. This action may impact trade routes, pricing, and compliance obligations for companies operating in these markets. Failure to adhere to the terms of the general license or the updated FAQ could result in penalties.

What to do next

  1. Review Russia-related General License 133 for authorization details regarding Russian oil exports to India.
  2. Review amended Venezuela-related FAQ 1238 for updated guidance on the resale of Venezuelan oil to Cuba.
  3. Ensure compliance with OFAC sanctions regulations concerning energy transactions involving Russia and Venezuela.

Source document (simplified)

Issuance of Russia-related General License; Issuance of Amended Venezuela-related Frequently Asked Question

03/05/2026 The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 133, "Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 5, 2026 to India."

OFAC is also issuing one amended, Venezuela-related Frequently Asked Question (FAQ 1238), pertaining to the resale of Venezuelan origin oil to Cuba.

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Source

Favicon for ofac.treasury.gov
OFAC Recent Actions ofac.treasury.gov/recent-actions
Sanctions
Analysis generated by AI. Source diff and links are from the original.

Classification

Agency
Various Federal Agencies
Published
March 5th, 2026
Instrument
Notice
Legal weight
Binding
Stage
Final
Change scope
Substantive

Who this affects

Applies to
Importers and exporters Energy companies
Geographic scope
US

Taxonomy

Primary area
Sanctions
Operational domain
Compliance
Topics
Russia Sanctions Venezuela Sanctions Energy Exports

Browse Categories

Federal Courts 26 State Courts 91 Securities Regulation 6 Financial Regulation 43 Consumer Protection 5 Drug Safety 45 Data Protection 21 Competition 2 Attorneys General 3 Insurance Regulation 5 Trade & Export 36 Legislation 42 Energy Regulation 13 Environment 3 Labor & Employment 2 Tax 1

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