New York [US], July 15: The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Tuesday issued General License Z and imposed new Iran-related sanctions.
The license, titled "Authorizing Wind Down Activities, Limited Safety and Environmental Transactions, and the Offloading of Cargo Involving Certain Persons or Vessels Blocked on July 14, 2026," was signed by OFAC Deputy Director Lisa Palluconi.
It does not authorize the entry into any new commercial contracts involving the property or interests in property of any blocked persons, nor does it authorize any transactions or activities prohibited by the executive order titled "Imposing Sanctions With Respect to Additional Sectors of Iran" signed on Jan. 10, 2020, including any transaction or activity involving Iran, the government of Iran, or Iranian-origin goods or services that is prohibited by the Iranian Transactions and Sanctions Regulations.
Additionally, OFAC has added 10 individuals, 24 entities and 20 vessels to the Specially Designated Nationals and Blocked Persons List because of their connections with Iran.
Source: Qatar Tribune