OFAC Sets Deadline to Wrap ICC Sanctions Transactions
Published Date: 9/23/2026
Rule
Summary
The Treasury’s Office of Foreign Assets Control (OFAC) published General License 12, letting people wrap up certain blocked transactions involving specific individuals by September 17, 2026. This means if you’re dealing with these folks or their companies, you have a limited time to finish up payments, which must be held in special U.S. accounts. The license was first issued on August 18, 2026, giving a clear deadline to avoid penalties.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Payments must go to U.S. blocked accounts
If you make a payment to one of the listed blocked persons during the wind-down period, any payment must be deposited into a blocked interest-bearing account located in the United States in accordance with the International Criminal Court-Related Sanctions Regulations. This condition applies for transactions authorized through 12:01 a.m. Eastern daylight time on September 17, 2026.
Temporary wind-down authorization for blocked persons
You are allowed to finish (wind down) transactions that involve Abdoulaye Seye, Tomoko Akane, or any entity 50 percent or more owned by them through 12:01 a.m. Eastern daylight time on September 17, 2026. This authorization was issued on August 18, 2026 and covers only transactions that are ordinarily incident and necessary to wind down those dealings.
No authorization for other blocked persons
This general license does not authorize any transactions involving persons blocked under the International Criminal Court-Related Sanctions Regulations other than Abdoulaye Seye, Tomoko Akane, or entities 50 percent or more owned by them. If you are dealing with other blocked persons, you do not have permission under GL 12 to wind down those transactions.
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Key Dates
Department and Agencies
Related Federal Register Documents
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