OFAC Publishes Two Lapsed Iran Sanctions Workarounds
Published Date: 6/10/2026
Rule
Summary
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.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Temporary OK to Deliver Iranian Oil Loads
GL U, issued March 20, 2026, temporarily authorized transactions ordinarily incident and necessary to the sale, delivery, or offloading of Iranian-origin crude oil and petroleum products loaded on vessels on or before 12:01 a.m. eastern daylight time, March 20, 2026. The authorization ran through 12:01 a.m. eastern daylight time, April 19, 2026, and explicitly covers services like docking, crew safety, emergency repairs, bunkering, piloting, registration, insurance, and importation into the United States when ordinarily incident and necessary. The license does not authorize transactions involving persons located in or organized under the laws of the DPRK (North Korea), Cuba, the Covered Regions of Ukraine, or the Crimea Region of Ukraine, or transactions barred by other referenced authorities.
Temporary Wind-Down for Hengli Petrochemical Deals
GL V, issued April 24, 2026, authorized transactions ordinarily incident and necessary to wind down transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd. or entities 50%+ owned by it through 12:01 a.m. eastern daylight time, May 24, 2026. The license requires that any payment to a blocked person be made into a blocked, interest-bearing account located in the United States and does not authorize other transactions involving blocked persons under E.O. 13902 unless separately authorized.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-18569, Publication of Venezuela Sanctions Regulations Web General Licenses 30B and 51.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 30B and 51, each of which was previously made available on OFAC's website.
2026-18565, Publication of Nicaragua Sanctions Regulations Web General License 5
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the Nicaragua Sanctions Regulations: GL 5, which was previously made available on OFAC's website.
2026-18563, Publication of Global Terrorism Sanctions Regulations and Illicit Drug Trade Sanctions Regulations Web General License 35
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the Global Terrorism Sanctions Regulations and the Illicit Drug Trade Sanctions Regulations: GL 35. This GL was previously made available on OFAC's website.
2026-18610, Notice of OFAC Sanctions Actions
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing updates to the identifying information of one or more persons currently included in OFAC's Specially Designated Nationals and Blocked Persons List (SDN List). OFAC is also publishing the names of one or more persons whose property and interests in property have been unblocked and who have been removed from the SDN List.
2026-18576, Publication of Iran-Related Web General Licenses CC and DD.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs CC and DD, which were previously made available on OFAC's website upon issuance.
2026-18572, Publication of Venezuela Sanctions Regulations Web General Licenses 50A and 51A
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 50A and 51A, each of which was previously made available on OFAC's website.
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