US Renews General Licences for Sakhalin-2 Oil Exports and Civil Nuclear Transactions with Russian Banks
The United States has issued updated versions of two Russia-related general licences and amended eight associated FAQs, maintaining carve-outs for specific energy and nuclear transactions that would otherwise be prohibited under US sanctions.
GL 55F replaces GL 55E and authorises transactions related to the maritime transport of crude oil produced at the Sakhalin-2 project, on the condition that the Sakhalin-2 by-product is destined solely for importation into Japan. The licence also covers certain transactions involving Gazprombank and other dealings otherwise prohibited under Executive Order 14071. It expires on 18 December 2026.
GL 115D replaces GL 115C and authorises transactions with sanctioned Russian financial institutions — including Gazprombank, Sberbank, and VTB Bank — where those transactions relate to civil nuclear energy. The licence covers activity undertaken solely to maintain or support civil nuclear projects that were initiated before 21 November 2024, and similarly expires on 18 December 2026.
GL 55F replaces GL 55E and authorises transactions related to the maritime transport of crude oil produced at the Sakhalin-2 project, on the condition that the Sakhalin-2 by-product is destined solely for importation into Japan. The licence also covers certain transactions involving Gazprombank and other dealings otherwise prohibited under Executive Order 14071. It expires on 18 December 2026.
GL 115D replaces GL 115C and authorises transactions with sanctioned Russian financial institutions — including Gazprombank, Sberbank, and VTB Bank — where those transactions relate to civil nuclear energy. The licence covers activity undertaken solely to maintain or support civil nuclear projects that were initiated before 21 November 2024, and similarly expires on 18 December 2026.
- OFAC also updated FAQs 967, 978, 999, 1011, 1117, 1182, 1203, and 1216 in connection with the revised licences.
