OFAC Sanctions 16 Individuals and 10 Entities in Iran’s International Financial Networks

OFAC imposed blocking sanctions against 16 individuals in Iran and the UAE and 10 entities (eight in Iran, one in Iraq, and one in Hong Kong) for their roles in Iran’s international financial networks and shadow banking activities. The action was taken under Executive Order 13902 as part of Operation Economic Outcast. OFAC also issued General License FF, authorizing qualifying wind-down transactions involving International Development Bank for Investment and Finance through 12:01 a.m. EDT on October 30, 2026.