Regulatory Alerts2026-07-07 | 20260707Added · Updated
Issuance of Amended Iran-related General License
The Department of the Treasury's Office of Foreign Assets Control (OFAC) revoked Iran-related General License X and issued General License X1 effective July 7, 2026. General License X1 supersedes the previous authorization regarding the production, delivery, and sale of crude oil, petrochemical products, and petroleum products of Iranian origin. This action formally replaces the June 21, 2026 authorization with the new terms outlined in General License X1.
Release Date
07/07/2026
Recent Actions Body
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is revoking Iran-related General License X and issuing Iran-related General License X1 , for the "Revocation and Wind Down of June 21, 2026 Authorization for the Production, Delivery and Sale of Crude Oil, Petrochemical Products, and Petroleum Products of Iranian Origin." Effective July 7, 2026, General License X, dated June 21, 2026, is replaced and superseded in its entirety by this General License X1.