The Office of Foreign Assets Control announced the following sanctions action last week.
WMD-related Sanctions
OFAC targets Iran weapons procurement network: Following Iran’s attacks on commercial vessels in the Strait of Hormuz, OFAC on July 15 sanctioned seven individuals and entities involved in a network supporting weapons procurement for the Islamic Revolutionary Guard Corps. The action targets foreign aviation and transport firms, financial facilitators and travel coordinators used to conceal and support the IRGC’s procurement activities. Taken under Executive Order 13382, the designations build on previous actions targeting networks that supply weapons and military equipment to Iran. Read more.
Iran-related Sanctions
OFAC targets Shamkhani sanctions-evasion network: On July 14, OFAC intensified sanctions against the shipping and sanctions-evasion network of Mohammad Hossein Shamkhani, a key facilitator of Iranian oil exports and global commodities trading. The action targets more than 50 individuals, entities and vessels involved in the network and builds on previous sanctions imposed in April 2026 and July 2025. Taken under Executive Order 13902, the designations are part of ongoing efforts to increase economic pressure on Iran and disrupt revenue streams supporting the regime. Read more.
OFAC issues General License Z for wind-down and vessel safety activities: On July 14, OFAC issued Iran-related General License Z, authorizing certain wind-down transactions, vessel safety and environmental activities, and the offloading of cargo involving persons and vessels designated on July 14, 2026. The authorization remains in effect through Sept. 12, 2026, and permits activities such as safe port operations, emergency repairs and cargo deliveries loaded before July 14, subject to specified conditions and restrictions under Executive Order 13902. Read more.
Venezuela-related Sanctions
OFAC issues FAQ on Venezuela earthquake relief payments: OFAC issued FAQ 1263 clarifying that payments to the Government of Venezuela made under General License 60, which authorizes transactions related to earthquake relief efforts, do not need to be deposited into the Foreign Government Deposit Funds Account. The guidance notes that payment requirements under other Venezuela-related general licenses remain unchanged and cannot be avoided by recharacterizing transactions as earthquake relief. Read the FAQ.
