The Office of Foreign Assets Control announced the following sanctions action in the last two weeks.
Enforcement Action
OFAC reaches $275 million settlement with Adani Enterprises for Iran sanctions violations: OFAC announced a $275 million settlement with Adani Enterprises Limited to resolve 32 apparent violations of Iran sanctions involving the purchase of LPG shipments that originated from Iran despite red flags. The company processed over $192 million in U.S. dollar transactions through U.S. financial institutions, and OFAC determined the conduct was egregious and not voluntarily self‑disclosed. Read more.
Russia-related Sanctions
OFAC issues updated Russia‑related General License for Lukoil transactions: OFAC issued Russia‑related General License 131F, authorizing certain transactions related to the negotiation and entry into contingent contracts for the sale of Lukoil International GmbH, along with related maintenance activities. OFAC also amended FAQs 1224 and 1225 and updated the Specially Designated Nationals (SDN) List. Read more.
Iran-related Sanctions
OFAC targets Iran‑based procurement network defrauding U.S. companies: As part of its Economic Fury campaign, OFAC sanctioned an Iran‑based procurement network that impersonated and defrauded U.S. companies to obtain restricted goods for Iran’s Ministry of Defense and other sanctioned entities. The action, taken under counterterrorism authority Executive Order 13224, targets efforts to support Iran’s defense sector and IRGC‑Qods Force operations. The State Department also announced a reward of up to $15 million for information on IRGC financial networks. Read more.
OFAC targets Iran’s military oil revenue network: OFAC took additional action to disrupt Iran’s military oil sales, targeting networks that use front companies to generate revenue for rebuilding the regime’s armed forces. The designations, issued under counterterrorism authority Executive Order 13224, support the broader Economic Fury campaign and efforts to curb Iran’s ability to finance destabilizing activities. The State Department also announced a reward of up to $15 million for information on IRGC financial networks. Read more.
OFAC targets IRGC strait of Hormuz extortion scheme: OFAC designated Iran’s so‑called Persian Gulf Strait Authority for its role in an IRGC‑led scheme to extort vessels transiting the Strait of Hormuz. The action highlights sanctions risks for parties complying with Iranian demands, including “toll” payments or provision of sensitive vessel information. It builds on recent guidance and is part of the broader Economic Fury campaign to disrupt Iran’s revenue and maritime coercion efforts. Read more.
OFAC expands sanctions on Iran’s shadow banking and shipping networks: As part of its Economic Fury campaign, OFAC designated a major Iranian foreign currency exchange house and associated front companies facilitating hundreds of millions in transactions for sanctioned Iranian banks. OFAC also blocked 19 vessels involved in transporting Iranian petroleum products, targeting revenue streams tied to oil and petrochemical sales. These actions aim to further disrupt Iran’s sanctions evasion networks and limit funding for its military and proxy activities. Read more.
Foreign Terrorist Organization Sanctions
OFAC sanctions Lebanon officials tied to Hizballah: OFAC designated nine Lebanon‑based individuals affiliated with Hizballah for obstructing the country’s peace process and resisting efforts to disarm the Iran‑backed terrorist group. The designees, embedded across government and security institutions, were targeted under counterterrorism authority Executive Order 13224 for enabling Hizballah’s influence and destabilizing activities in Lebanon. Read more.
OFAC targets Sinaloa Cartel fentanyl networks: OFAC sanctioned more than a dozen individuals and entities tied to two networks supporting the Sinaloa Cartel’s fentanyl trafficking and money laundering operations. The action targets key leaders facilitating drug distribution and illicit financial flows into the United States and was taken under authorities addressing narco‑trafficking and terrorism. Read more.
OFAC targets Hamas‑linked flotilla and support networks: OFAC sanctioned four individuals tied to a pro‑Hamas flotilla organized by the Popular Conference for Palestinians Abroad, along with key actors linked to Hamas‑aligned Muslim Brotherhood networks. The action, taken under counterterrorism authority Executive Order 13224, targets efforts to support Hamas financially and politically and disrupt its global network of enablers. Read more.
