Recent news from Treasury’s Office of Foreign Assets Control: November 24

The Office of Foreign Assets Control announced the following sanctions action last week.

Russia-related Sanctions

OFAC issues general license for Paks II nuclear project: OFAC has authorized certain transactions involving the Paks II civil nuclear power plant in Hungary. The license permits certain transactions with specified Russian banks (e.g., Gazprombank Joint Stock Company, Sovcombank Open Joint Stock Company, Public Joint Stock Company Rosbank) for activities tied to Paks II. Read more.

OFAC issues FAQ on Russia-related General License 131: OFAC published FAQ 1224 explaining General License 131, which authorizes negotiations and contingent contracts for the sale of Lukoil International GmbH (LIG) and its majority-owned subsidiaries. The license also permits due diligence and wind-down activities for LIG entities through Dec. 13, 2025. Read more.

Iran-related Sanctions

OFAC sanctions Iranian oil network and expands shadow fleet designations: On November 20, OFAC sanctioned a network of front companies and shipping facilitators that fund Iran’s armed forces through crude oil sales. The action targets six vessels, expanding sanctions on Iran’s shadow fleet of tankers used to move oil to global markets. OFAC also imposed additional measures against Mahan Air, which works with the IRGC-QF to arm and supply Iran-backed terrorist groups across the Middle East. Read more.

Counter-narcotics-related Sanctions

OFAC sanctions violent fugitive and associates: On November 19, OFAC sanctioned Ryan James Wedding, a former Canadian Olympic snowboarder and one of the FBI’s Ten Most Wanted Fugitives, along with nine individuals and nine entities linked to him. Wedding is accused of directing drug trafficking, murder, and other violent crimes from Mexico and is believed responsible for multiple killings, including U.S. citizens. Read more.

Cyber-related Sanctions

U.S., U.K. and Australia sanction Russia-based cybercrime infrastructure: OFAC, Australia’s Department of Foreign Affairs and Trade, and the UK’s Foreign Commonwealth and Development Office announced coordinated sanctions against Media Land, a Russia-based bulletproof hosting (BPH) provider that supports ransomware operations and other cybercrime. OFAC also designated three Media Land leaders, three sister companies, and—alongside UK partners—Hypercore Ltd., a front company for Aeza Group LLC (previously sanctioned), plus two individuals and two entities tied to Aeza Group. BPH providers offer servers designed to evade detection and law enforcement, enabling malicious cyber activities worldwide. Read more.