The Office of Foreign Assets Control announced the following sanctions action last week
Iran-related Sanctions
OFAC sanctions Iran‑linked weapons procurement network: As part of operation Economic Fury, OFAC sanctioned 14 individuals, entities, and aircraft across Iran, Türkiye, and the UAE for procuring or transporting weapons and components for Iran’s missile and drone programs. The action, taken under nonproliferation and counterterrorism authorities, targets efforts to reconstitute Iran’s ballistic missile production and supply Shahed‑series drones used to threaten U.S. interests and regional security. Read more.
OFAC expands SDN List targeting Iran’s oil shipping network: OFAC on April 24 added numerous shipping companies, vessels, and related entities to the SDN List under Executive Order 13902 for their roles in facilitating Iran’s illicit oil trade, including the designation of Hengli Petrochemical (Dalian) Refinery Co., Ltd. The action targets a broad maritime network across Asia, the Middle East, and offshore jurisdictions used to transport Iranian petroleum, while also updating the SDN List to include additional identifying information for Iran’s central bank. Read more.
OFAC issues General License V for Hengli Petrochemical (Dalian) Refinery Co., Ltd. wind‑down: OFAC issued General License V under Executive Order 13902, authorizing the wind down of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd. and certain majority‑owned entities through May 24, 2026. The license permits transactions ordinarily incident to wind‑down activities, subject to conditions, including the requirement that payments to blocked persons be made to blocked, interest‑bearing U.S. accounts. Read more.
Illicit Drug-related and Foreign Terrorist Organization Sanctions
OFAC targets Sinaloa Cartel synthetic opioid supply chain: OFAC sanctioned 23 individuals and entities linked to a sophisticated synthetic opioid procurement network tied to the Sinaloa Cartel, targeting every stage of the fentanyl and methamphetamine supply chain. The action, taken under counter‑narcotics and counterterrorism authorities, aims to disrupt the international chemical sourcing, production, and distribution networks responsible for fueling deadly synthetic opioids in the United States. Read more.
Cyber-related Sanctions
OFAC issues Cyber‑related General License for drinking water services: OFAC issued Cyber‑Related General License No. 2, authorizing certain transactions involving Anco Water Supply Co. Ltd. that are necessary for the treatment and distribution of drinking water. The license allows continued water‑related operations while maintaining restrictions on other prohibited transactions under the cyber‑related sanctions regulations. Read more.
