OFAC Suspends Iran General Licenses, Tightening Sanctions Restrictions
OFAC has indefinitely suspended three general licenses and one licensing policy under the Iranian Transactions and Sanctions Regulations, reflecting a shift in U.S. foreign policy toward Iran. Any transactions or activities that were previously permitted under those now-suspended licenses are no longer authorized. Compliance officers must immediately review whether their firms or customers were relying on any of the affected licenses and halt any such activity.
What to do
- Identify any transactions, customer relationships, or business activities your firm authorized under the suspended Iran general licenses or licensing policy, cease those activities immediately, and update your sanctions screening and compliance policies to reflect that these authorizations are no longer available.
Who this affects
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Source
Read the official publicationThis radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.