The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
OFAC targets Iran’s shadow fleet in response to protest crackdown: In response to the Iranian regime’s brutal crackdown on protesters, OFAC increased pressure on Tehran by designating nine shadow fleet vessels and their associated owners or managers. These vessels have collectively moved hundreds of millions of dollars in Iranian oil and petroleum products to foreign markets. The action, taken under Executive Order 13902, targets Iran’s petroleum and petrochemical sectors and reinforces the Administration’s maximum economic pressure campaign under National Security Presidential Memorandum-2 (NSPM-2). Read more.
Related to this action, OFAC issued Iran-related General License T, authorizing limited safety, environmental, and emergency-related transactions involving certain vessels and persons blocked on Jan. 23, 2026, including safe docking, crew health, and emergency repairs. Read more.
Foreign Terrorist Organization Sanctions
OFAC designates Gaza-based organizations: OFAC on Jan. 21 designated six Gaza-based organizations for allegedly supporting the military wing of Hamas, the Izz al-Din al-Qassam Brigades. OFAC also targeted the Popular Conference for Palestinians Abroad, an organization that purports to broadly represent Palestinians but is clandestinely controlled by Hamas and has been a key backer of several so-called flotillas attempting to access Gaza. OFAC’s action was taken pursuant to the counterterrorism authority, Executive Order 13224, as amended. Read more.
Counter-narcotics-related Sanctions
OFAC designates Caribbean narcotics trafficking network: OFAC on Jan. 22 designated five Costa Rican nationals and five Costa Rica-based entities for their involvement in narcotics trafficking and money laundering. The network designated is responsible for transporting multi-ton quantities of cocaine from Colombia, storing the drugs in Costa Rica, and ultimately shipping them to the United States and Europe. Luis Manuel Picado Grijalba, the leader of this network, is one of the most prolific drug traffickers operating in the Caribbean. Read more.
