OFAC Revises Iran General License for Iraq Development Bank Wind-Down

OFAC issued Iran General License FF-1 on October 29, 2026, replacing General License FF dated October 15. It authorizes transactions ordinarily incident and necessary to wind down dealings involving International Development Bank for Investment and Finance, also known as Iraq Development Bank, and entities it owns 50 percent or more, through 12:01 a.m. eastern standard time on December 1, 2026. Payments to blocked persons must be made into blocked accounts; other transactions prohibited by the Iranian Transactions and Sanctions Regulations remain excluded unless separately authorized.