Regulatory Alerts2026-06-10 | 2026-11614Publication of Iran-Related Web General Licenses U and V
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published General Licenses U and V to authorize specific transactions otherwise prohibited by various Iranian sanctions regulations and Executive Orders. General License U permits the sale, delivery, or offloading of Iranian-origin crude oil and petroleum products loaded on vessels by March 20, 2026, while General License V authorizes the wind-down of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd. under Executive Order 13902. Both licenses were previously made available on OFAC’s website and include specific exclusions for transactions involving persons in North Korea, Cuba, or certain regions of Ukraine.
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