The Office of Foreign Assets Control and the Department of State announced the following sanctions action last week.
Iran-related Sanctions
Treasury launches Operation Economic Outcast against Iran: On Aug. 24, Treasury launched Operation Economic Outcast, a governmentwide initiative aimed at increasing economic pressure on Iran by expanding sanctions risks across the digital assets, technology, gold, aviation and shipping sectors. Treasury also sanctioned nearly 60 individuals, entities and vessels linked to Iran’s nuclear, missile, cyber and oil-revenue networks, while suspending certain Iran-related general licenses and issuing new sanctions guidance. Read more.
State Department launches Operation Economic Outcast sanctions against Iran: On Aug. 24, the State Department designated multiple individuals, entities and vessels tied to Iran’s military procurement, petroleum and petrochemical trade, and sanctions-evasion networks as part of Operation Economic Outcast. The action targets Iranian military and IRGC officials, entities involved in military targeting and procurement activities, and companies in India, Türkiye, Hong Kong and other jurisdictions that facilitated the trade of Iranian petroleum and petrochemical products. The sanctions were imposed under Executive Orders 13846 and 13949 and complement Treasury actions targeting nearly 60 additional Iran-linked individuals, entities and vessels. Read more.
Syrian-related Sanctions
Treasury and State deliver additional sanctions relief for Syria: On Aug. 24, the State Department rescinded Syria’s designation as a State Sponsor of Terrorism and revoked the designation of Hay’at Tahrir al-Sham (HTS) as a Specially Designated Global Terrorist, while OFAC removed HTS from the SDN List. As a result, OFAC revoked Syria General License 25, updated related FAQs and, with the Departments of Commerce and State, issued an updated Tri-Seal Advisory on sanctions and export-control relief for Syria. At the same time, OFAC designated two former HTS affiliates for alleged support of al-Qaida and Hurras al-Din, underscoring that counterterrorism sanctions remain in place for individuals tied to terrorist activities. Read more.
Foreign Terrorist Organization Sanctions
OFAC sanctions entities linked to violent far-left extremist groups: On Aug. 26, OFAC sanctioned Italy-based Autistici Inventati, U.K.-based Palestine Action, and Masar Badil, a group identified as a front for the Popular Front for the Liberation of Palestine, along with two of its senior leaders. Treasury said the designated groups provided support, infrastructure or services that facilitated terrorist activity and violent extremist operations. Related to this action, OFAC issued Counter Terrorism General License 36 authorizing the wind down of transactions involving Autistici Inventati, issued Russia-related General License 104B authorizing certain transactions related to imports of diamonds prohibited by Executive Order 14068, and updated the Specially Designated Nationals and Blocked Persons List. Read more.
Venezuela-related Sanctions
OFAC updates and reissues Venezuela-related general licenses: OFAC issued updated several Venezuela-related general licenses, including General Licenses 46D, 47B, 48C, 50C, 51C, 52B, 54B and 61A, covering activities involving Venezuelan oil, gas, minerals, telecommunications, diluents and transactions with Petróleos de Venezuela, S.A. (PDVSA). OFAC also issued new FAQs 1267 and 1268, amended FAQs 1233 and 1244, and archived FAQ 1260. Read more.
