The U.S. Treasury has issued license 'GL-115C', temporarily exempting several Russian banks from sanctions, including Gazprombank, and extending the waiver for oil sales from Sakhalin-2.

The United States has decided to temporarily exempt several major Russian banks involved in civil nuclear projects from sanctions, including Gazprombank, by issuing the general license 'GL-115C'. This measure, announced by the U.S. Treasury, allows the continuation of financial activities related to the Russian Sakhalin-2 project, which is essential for liquefied natural gas production. Additionally, the U.S. has extended the waiver that allows oil sales from this project until June 18, 2026. In November 2024, the U.S. had imposed sanctions against 50 Russian banks to limit Russia's access to the international financial system, particularly targeting Gazprombank. However, a year later, the 'GL-115C' license was issued, temporarily lifting these restrictions. The list of exempted banks includes major institutions such as Vnesheconombank, Sberbank, and VTB Bank. This decision is significant for Japan, which relies on Russian LNG for a substantial part of its energy needs.