The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
OFAC temporarily licenses Iranian-origin oil: On June 22, OFAC issued a general license authorizing the production, delivery and sale of crude oil, petrochemical products, and petroleum products of Iranian origin through Aug. 21, 2026. In addition to temporarily authorizing those transactions, General License X authorizes transactions ordinarily incident and necessary to the production, sale, delivery or offloading of covered products, including transactions involving blocked vessels, but transactions involving certain persons or entities located in North Korea, Cuba, or the certain regions of Ukraine are remain prohibited. Crude oil, petrochemical products, and petroleum products covered by this license may be imported into the United States, under the terms of this authorization. Read more.
Foreign Terrorist Organization Sanctions
OFAC expands sanctions on Hizballah‑linked network: On June 18, OFAC designated Hizballah‑aligned Lebanese officials for obstructing Lebanon’s peace process and delaying the group’s disarmament. The action also expands prior March 2026 sanctions on Alaa Hassan Hamieh’s network by targeting additional facilitators across Lebanon, Syria, Iraq, and Oman involved in raising funds and operating front companies to support Hizballah. This action was taken pursuant to the counterterrorism authority, Executive Order (E.O.) 13224, as amended. Read more.
Venezuela-related Sanctions
OFAC issues multiple Venezuela‑related general licenses: On June 18, OFAC issued Venezuela‑related General Licenses 5X, 24A, and 59, authorizing certain transactions involving PDVSA bonds, telecommunications and mail services, and activities related to Conviasa. OFAC also amended FAQ 595 to provide updated guidance on the scope of these authorizations.
