diff --git a/skopeo.spec b/skopeo.spec
index 3982b8e..92560e6 100644
--- a/skopeo.spec
+++ b/skopeo.spec
@@ -43,10 +43,10 @@ Epoch: %{conditional_epoch}
 # If that's what you're reading, Version must be 0, and will be updated by Packit for
 # copr and koji builds.
 # If you're reading this on dist-git, the version is automatically filled in by Packit.
-Version: 1.16.0
+Version: 1.16.1
 # The `AND` needs to be uppercase in the License for SPDX compatibility
 License: Apache-2.0 AND BSD-2-Clause AND BSD-3-Clause AND ISC AND MIT AND MPL-2.0
-Release: 2%{?dist}
+Release: 1%{?dist}
 %if %{defined golang_arches_future}
 ExclusiveArch: %{golang_arches_future}
 %else
@@ -166,6 +166,10 @@ cp -pav systemtest/* %{buildroot}/%{_datadir}/%{name}/test/system/
 %{_datadir}/%{name}/test
 
 %changelog
+* Mon Aug 26 2024 Jindrich Novy <jnovy@redhat.com> - 1:1.16.1-1
+- update to https://github.com/containers/skopeo/releases/tag/v1.16.1
+- Related: RHEL-34195
+
 * Tue Jul 30 2024 Jindrich Novy <jnovy@redhat.com> - 1:1.16.0-2
 - Don't require fakeroot for tests
 - Resolves: RHEL-27608
diff --git a/sources b/sources
index 72d015b..04ecd4e 100644
--- a/sources
+++ b/sources
@@ -1 +1 @@
-SHA512 (v1.16.0.tar.gz) = 049dfa3549fd596e233c150ca5ec1cec0397b9bdb30a62d130992826f0b09e63c57516097f16bcd1aa7f3a203c61a81414ed7678ced7b692ef8cf664f484b3be
+SHA512 (v1.16.1.tar.gz) = 104b2492901a172e2ba75179492f9e8bf070aec649596ea902384d7a5d875665d8d28e2fc41cf69895208ccfca5e96c2cadeabd235143b0ec5da12e7edc31fcf