Russia-related Sanctions
OFAC issues new Russia‑related general license for Lukoil transactions: OFAC issued Russia‑related General License 131E, authorizing certain transactions related to the negotiation and entry into contingent contracts for the sale of Lukoil International GmbH, as well as related maintenance activities. OFAC also amended Russia‑related FAQs 1224 and 1225 to provide updated guidance. Read more.
Iran-related Sanctions
OFAC targets Iranian currency exchange network: OFAC designated three Iranian foreign currency exchange houses and their front companies to disrupt the regimes financial channels used to support its military and proxy activities. The exchanges play a key role in converting oil revenues—often settled in Chinese yuan—into usable currencies for Iran’s war effort. The action, taken under Executive Order 13902, builds on prior efforts to dismantle Iran’s shadow banking and sanctions‑evasion networks. Read more.
Related to this action, OFAC also issued Iran‑related General License W authorizing the wind down of certain transactions, released new FAQ 1250, and published an alert highlighting sanctions risks tied to Iranian demands for Strait of Hormuz passage.
OFAC sanctions Iran’s shadow banking network: As part of its Economic Fury campaign, OFAC designated 35 individuals and entities responsible for operating Iran’s shadow banking system, which facilitates tens of billions of dollars in sanctions evasion, illicit oil revenues, and financing for the IRGC and terrorist proxies. The action, taken under Executive Orders 13902 and 13224, builds on prior targeting of Iran’s banking intermediaries and aims to cut off critical financial lifelines supporting destabilizing activities. OFAC also issued guidance warning of sanctions risks associated with making “toll” payments to Iran or the IRGC for passage through the Strait of Hormuz. Read more.
OFAC warns financial institutions of teapot refinery sanctions risks: OFAC issued an alert warning financial institutions of heightened sanctions risks associated with independent “teapot” oil refineries in China—particularly in Shandong Province—for their role in importing and refining Iranian crude oil. The alert urges enhanced due diligence and risk‑based controls, highlighting common evasion tactics such as front companies, intermediary brokers, and deceptive shipping practices used to move Iranian oil. OFAC cautioned that it is prepared to use secondary sanctions against foreign financial institutions that continue to support Iran’s illicit oil trade. Read more.
Related to these actions, OFAC issued a new Iran‑related Frequently Asked Question 1249 and published an alert warning of sanctions risks associated with dealings involving “teapot” oil refineries. OFAC also updated the Specially Designated Nationals and Blocked Persons (SDN) List to reflect the latest sanctions actions. Read more.
Congo-related Sanctions
OFAC sanctions former DRC president for supporting armed groups: OFAC imposed sanctions on former Democratic Republic of the Congo President Joseph Kabila for supporting the Rwanda‑backed March 23 Movement (M23) and its political‑military coalition, the Congo River Alliance (AFC), which have driven violence and mass displacement in eastern DRC. The action supports the U.S.‑brokered Washington Accords for Peace and Prosperity and reinforces efforts to promote regional stability, accountability, and economic integration. Read more.
