Treasury Freezes and Unfreezes Global Blacklist Drama
Published Date: 8/18/2025
Notice
Summary
The U.S. Treasury’s OFAC just added some people to its blacklist, meaning their U.S.-based assets are frozen and Americans can’t do business with them. At the same time, some folks got removed from the list, so their assets are now unlocked and business can resume. Plus, OFAC updated info on two others already on the list—keeping things fresh and clear for everyone involved.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New SDN Listings Freeze Assets
OFAC added one or more persons to its Specially Designated Nationals (SDN) List. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
SDN Removals Unblock Assets
OFAC removed one or more persons from its SDN List. All property and interests in property subject to U.S. jurisdiction of those persons are unblocked, and U.S. persons are permitted to engage in lawful transactions with them.
SDN List Identity Information Updates
OFAC updated the identifying information for two persons already on the SDN List. These updates help U.S. persons, financial institutions, and businesses correctly identify listed parties when checking the SDN List before transactions.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-11896 — Notice of OFAC Sanctions Action
On June 10, 2026, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) blocked the property of certain people by adding them to a special sanctions list. This means U.S. folks can’t do business with these individuals, and any money or property they have under U.S. control is frozen. These actions help keep bad actors from using the U.S. financial system.
2026-11761 — Publication of the List of Medical Devices Requiring Specific Authorization for the North Korea Sanctions Regulations
Starting June 11, 2026, certain medical devices can’t be sent to North Korea without special permission from the U.S. Treasury. This new list affects exporters who now need to get specific approval before shipping these devices, helping keep sanctions strong while allowing some medical aid. If you’re in the business of sending medical gear, watch your paperwork and timing to avoid costly delays!
2026-11601 — Publication of International Criminal Court-Related Sanctions Regulations Web General License 11
The Treasury’s Office of Foreign Assets Control (OFAC) published General License 11, which lets certain people wrap up business with specific blocked individuals linked to the International Criminal Court sanctions. This special permission was active from December 18, 2025, until January 17, 2026, and required payments to be held in blocked U.S. accounts. If you dealt with Gocha Lordkipanidze, Erdenebalsuren Damdin, or their companies, this was your green light to finish up safely and legally.
2026-11592 — Publication of Cyber-Related Sanctions Regulations Web General License 2
The Treasury’s Office of Foreign Assets Control (OFAC) officially published General License 2, which lets certain water treatment and distribution transactions with Anco Water Supply Co. Ltd. happen, even though sanctions usually block them. This change helps companies involved in drinking water services keep things flowing smoothly without breaking the rules. The license took effect on April 23, 2026, so affected businesses should act now to stay compliant and avoid penalties.
2026-11616 — Publication of Venezuela Sanctions Regulations Web General Licenses 48A and 49A
The U.S. Treasury just made official two updated licenses (48A and 49A) that let certain U.S. businesses provide goods and services related to Venezuela’s oil, gas, and electricity sectors, even though sanctions are in place. These changes help companies work with Venezuela’s government and its oil giant PdVSA under clear rules, starting from March 13, 2026. If you’re involved in these industries, this means new opportunities with some important contract and payment rules to follow.
2026-11614 — Publication of Iran-Related Web General Licenses U and V
The Treasury’s Office of Foreign Assets Control (OFAC) published two special Iran-related licenses called GL U and GL V. These licenses let certain transactions happen that are usually banned under U.S. sanctions, but both had set expiration dates in 2026. If you’re involved in business or finance connected to Iran, these licenses gave you a temporary green light to operate within specific rules.
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