The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
OFAC sanctions senior Iranian officials and financial networks: On Jan. 30, OFAC imposed new sanctions on Iranian officials involved in the regime’s violent crackdown on protesters, including Interior Minister Eskandar Momeni Kalagari, who oversees the lethal Law Enforcement Forces. OFAC also designated Babak Morteza Zanjani, a corrupt investor who embezzled billions in oil revenue and finances IRGC-linked projects, along with two digital asset exchanges tied to his network that processed funds for IRGC-associated counterparties. Read more.
OFAC updates SDN List: OFAC removed multiple aliases of SOLTECH Industry and related entities from the SDN List. Additionally, OFAC updated the listing for Mohammad Soltanmohammadi, revising his affiliation from Soltech to Hoda Trading. Read more.
Venezuela-related Sanctions
OFAC issues Venezuela General License 46: OFAC issued General License 46, authorizing U.S. entities established before Jan. 29, 2025, to engage in certain transactions involving Venezuelan-origin oil, including its export, sale, transport, and refining—subject to U.S. governing law and required payments into specified U.S.-controlled accounts. The license excludes transactions involving blocked vessels, non-commercial payment terms, digital currency issued by the Venezuelan government, and dealings with entities tied to Russia, Iran, North Korea, Cuba, or China. Read more. OFAC issued 10 new FAQs in its Venezuela program, clarifying the scope of General License 46.
