diff --git a/CHANGELOG.md b/CHANGELOG.md
index f5a708b6e..0b94a3a5f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,129 @@
+Changes in [1.7.34](https://github.com/vector-im/element-desktop/releases/tag/v1.7.34) (2021-07-02)
+===================================================================================================
+
+## 🔒 SECURITY FIXES
+ * Sanitize untrusted variables from message previews before translation
+   Fixes vector-im/element-web#18314
+
+## ✨ Features
+ * Fix editing of `<sub>` & `<sup`> & `<u>`
+   [\#6469](https://github.com/matrix-org/matrix-react-sdk/pull/6469)
+   Fixes #18211
+ * Zoom images in lightbox to where the cursor points
+   [\#6418](https://github.com/matrix-org/matrix-react-sdk/pull/6418)
+   Fixes #17870
+ * Avoid hitting the settings store from TextForEvent
+   [\#6205](https://github.com/matrix-org/matrix-react-sdk/pull/6205)
+   Fixes #17650
+ * Initial MSC3083 + MSC3244 support
+   [\#6212](https://github.com/matrix-org/matrix-react-sdk/pull/6212)
+   Fixes #17686 and #17661
+ * Navigate to the first room with notifications when clicked on space notification dot
+   [\#5974](https://github.com/matrix-org/matrix-react-sdk/pull/5974)
+ * Add matrix: to the list of permitted URL schemes
+   [\#6388](https://github.com/matrix-org/matrix-react-sdk/pull/6388)
+ * Add "Copy Link" to room context menu
+   [\#6374](https://github.com/matrix-org/matrix-react-sdk/pull/6374)
+ * 💭 Message bubble layout
+   [\#6291](https://github.com/matrix-org/matrix-react-sdk/pull/6291)
+   Fixes #4635, #17773 #16220 and #7687
+ * Play only one audio file at a time
+   [\#6417](https://github.com/matrix-org/matrix-react-sdk/pull/6417)
+   Fixes #17439
+ * Move download button for media to the action bar
+   [\#6386](https://github.com/matrix-org/matrix-react-sdk/pull/6386)
+   Fixes #17943
+ * Improved display of one-to-one call history with summary boxes for each call
+   [\#6121](https://github.com/matrix-org/matrix-react-sdk/pull/6121)
+   Fixes #16409
+ * Notification settings UI refresh
+   [\#6352](https://github.com/matrix-org/matrix-react-sdk/pull/6352)
+   Fixes #17782
+ * Fix EventIndex double handling events and erroring
+   [\#6385](https://github.com/matrix-org/matrix-react-sdk/pull/6385)
+   Fixes #18008
+ * Improve reply rendering
+   [\#3553](https://github.com/matrix-org/matrix-react-sdk/pull/3553)
+   Fixes vector-im/riot-web#9217, vector-im/riot-web#7633, vector-im/riot-web#7530, vector-im/riot-web#7169, vector-im/riot-web#7151, vector-im/riot-web#6692 vector-im/riot-web#6579 and #17440
+ * Improve performance of room name calculation
+   [\#1801](https://github.com/matrix-org/matrix-js-sdk/pull/1801)
+
+## 🐛 Bug Fixes
+ * Fix browser history getting stuck looping back to the same room
+   [\#18053](https://github.com/vector-im/element-web/pull/18053)
+ * Fix space shortcuts on layouts with non-English keys in the places of numbers
+   [\#17780](https://github.com/vector-im/element-web/pull/17780)
+   Fixes #17776
+ * Fix CreateRoomDialog exploding when making public room outside of a space
+   [\#6493](https://github.com/matrix-org/matrix-react-sdk/pull/6493)
+ * Fix regression where registration would soft-crash on captcha
+   [\#6505](https://github.com/matrix-org/matrix-react-sdk/pull/6505)
+   Fixes #18284
+ * only send join rule event if we have a join rule to put in it
+   [\#6517](https://github.com/matrix-org/matrix-react-sdk/pull/6517)
+ * Improve the new download button's discoverability and interactions.
+   [\#6510](https://github.com/matrix-org/matrix-react-sdk/pull/6510)
+ * Fix voice recording UI looking broken while microphone permissions are being requested.
+   [\#6479](https://github.com/matrix-org/matrix-react-sdk/pull/6479)
+   Fixes #18223
+ * Match colors of room and user avatars in DMs
+   [\#6393](https://github.com/matrix-org/matrix-react-sdk/pull/6393)
+   Fixes #2449
+ * Fix onPaste handler to work with copying files from Finder
+   [\#5389](https://github.com/matrix-org/matrix-react-sdk/pull/5389)
+   Fixes #15536 and #16255
+ * Fix infinite pagination loop when offline
+   [\#6478](https://github.com/matrix-org/matrix-react-sdk/pull/6478)
+   Fixes #18242
+ * Fix blurhash rounded corners missing regression
+   [\#6467](https://github.com/matrix-org/matrix-react-sdk/pull/6467)
+   Fixes #18110
+ * Fix position of the space hierarchy spinner
+   [\#6462](https://github.com/matrix-org/matrix-react-sdk/pull/6462)
+   Fixes #18182
+ * Fix display of image messages that lack thumbnails
+   [\#6456](https://github.com/matrix-org/matrix-react-sdk/pull/6456)
+   Fixes #18175
+ * Fix crash with large audio files.
+   [\#6436](https://github.com/matrix-org/matrix-react-sdk/pull/6436)
+   Fixes #18149
+ * Make diff colors in codeblocks more pleasant
+   [\#6355](https://github.com/matrix-org/matrix-react-sdk/pull/6355)
+   Fixes #17939
+ * Show the correct audio file duration while loading the file.
+   [\#6435](https://github.com/matrix-org/matrix-react-sdk/pull/6435)
+   Fixes #18160
+ * Fix various timeline settings not applying immediately.
+   [\#6261](https://github.com/matrix-org/matrix-react-sdk/pull/6261)
+   Fixes #17748
+ * Fix issues with room list duplication
+   [\#6391](https://github.com/matrix-org/matrix-react-sdk/pull/6391)
+   Fixes #14508
+ * Fix grecaptcha throwing useless error sometimes
+   [\#6401](https://github.com/matrix-org/matrix-react-sdk/pull/6401)
+   Fixes #15142
+ * Update Emojibase and Twemoji and switch to IamCal (Slack-style) shortcodes
+   [\#6347](https://github.com/matrix-org/matrix-react-sdk/pull/6347)
+   Fixes #13857 and #13334
+ * Respect compound emojis in default avatar initial generation
+   [\#6397](https://github.com/matrix-org/matrix-react-sdk/pull/6397)
+   Fixes #18040
+ * Fix bug where the 'other homeserver' field in the server selection dialog would become briefly focus and then unfocus when clicked.
+   [\#6394](https://github.com/matrix-org/matrix-react-sdk/pull/6394)
+   Fixes #18031
+ * Standardise spelling and casing of homeserver, identity server, and integration manager 
+   [\#6365](https://github.com/matrix-org/matrix-react-sdk/pull/6365)
+ * Fix widgets not receiving decrypted events when they have permission.
+   [\#6371](https://github.com/matrix-org/matrix-react-sdk/pull/6371)
+   Fixes #17615
+ * Prevent client hangs when calculating blurhashes
+   [\#6366](https://github.com/matrix-org/matrix-react-sdk/pull/6366)
+   Fixes #17945
+ * Exclude state events from widgets reading room events
+   [\#6378](https://github.com/matrix-org/matrix-react-sdk/pull/6378)
+ * Cache feature_spaces\* flags to improve performance
+   [\#6381](https://github.com/matrix-org/matrix-react-sdk/pull/6381)
+
 Changes in [1.7.33](https://github.com/vector-im/element-web/releases/tag/v1.7.33) (2021-07-19)
 ===============================================================================================
 [Full Changelog](https://github.com/vector-im/element-web/compare/v1.7.33-rc.1...v1.7.33)
diff --git a/package.json b/package.json
index 0043362eb..6a93a119e 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "element-web",
-  "version": "1.7.33",
+  "version": "1.7.34",
   "description": "A feature-rich client for Matrix.org",
   "author": "New Vector Ltd.",
   "repository": {
@@ -61,8 +61,8 @@
     "highlight.js": "^10.5.0",
     "jsrsasign": "^10.2.0",
     "katex": "^0.12.0",
-    "matrix-js-sdk": "github:matrix-org/matrix-js-sdk#develop",
-    "matrix-react-sdk": "github:matrix-org/matrix-react-sdk#develop",
+    "matrix-js-sdk": "12.2.0",
+    "matrix-react-sdk": "3.27.0",
     "matrix-widget-api": "^0.1.0-beta.15",
     "prop-types": "^15.7.2",
     "react": "^17.0.2",
diff --git a/yarn.lock b/yarn.lock
index a98da911a..cd913d6a3 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -7293,9 +7293,10 @@ mathml-tag-names@^2.1.3:
   resolved "https://registry.yarnpkg.com/mathml-tag-names/-/mathml-tag-names-2.1.3.tgz#4ddadd67308e780cf16a47685878ee27b736a0a3"
   integrity sha512-APMBEanjybaPzUrfqU0IMU5I0AswKMH7k8OTLs0vvV4KZpExkTkY87nR/zpbuTPj+gARop7aGUbl11pnDfW6xg==
 
-matrix-js-sdk@12.1.0, "matrix-js-sdk@github:matrix-org/matrix-js-sdk#develop":
-  version "12.1.0"
-  resolved "https://codeload.github.com/matrix-org/matrix-js-sdk/tar.gz/e85038e88898a3a1be432fc3d53d540c8250c021"
+matrix-js-sdk@12.2.0:
+  version "12.2.0"
+  resolved "https://registry.yarnpkg.com/matrix-js-sdk/-/matrix-js-sdk-12.2.0.tgz#e1dc7ddac054289cb24ee3d11dba8a5ba5ddecf5"
+  integrity sha512-foSs3uKRc6uvFNhgY35eErBvLWVDd5RNIxxsdFKlmU3B+70YUf3BP3petyBNW34ORyOqNdX36IiApfLo3npNEw==
   dependencies:
     "@babel/runtime" "^7.12.5"
     another-json "^0.2.0"
@@ -7316,9 +7317,10 @@ matrix-mock-request@^1.2.3:
     bluebird "^3.5.0"
     expect "^1.20.2"
 
-"matrix-react-sdk@github:matrix-org/matrix-react-sdk#develop":
-  version "3.26.0"
-  resolved "https://codeload.github.com/matrix-org/matrix-react-sdk/tar.gz/80e64601a970d972d02df286abb8de3d3f231eba"
+matrix-react-sdk@3.27.0:
+  version "3.27.0"
+  resolved "https://registry.yarnpkg.com/matrix-react-sdk/-/matrix-react-sdk-3.27.0.tgz#76605ab2b6b3431bcaf6b28428694627495d872a"
+  integrity sha512-DCtJq8tCF0mAHnRfjIMnhdoDG01iAXQ9i49mj049PfaERARVrZVc4imeXjwWbMrZM+rFIMiVTRzYktohmDLrcg==
   dependencies:
     "@babel/runtime" "^7.12.5"
     await-lock "^2.1.0"
@@ -7346,7 +7348,7 @@ matrix-mock-request@^1.2.3:
     katex "^0.12.0"
     linkifyjs "^2.1.9"
     lodash "^4.17.20"
-    matrix-js-sdk "12.1.0"
+    matrix-js-sdk "12.2.0"
     matrix-widget-api "^0.1.0-beta.15"
     minimist "^1.2.5"
     opus-recorder "^8.0.3"