OFAC issues Iran-related General License Z

OFAC issued Iran-related General License Z, authorizing wind-down financial transactions, safe docking/departure (excluding Iranian or Russian ports), crew safety, emergency repairs, and cargo offloading (for cargo loaded on or before July 14, 2026) involving the persons and vessels blocked in today's Shamkhani-related action. The license runs through 12:01 a.m. EDT on September 12, 2026, and requires any payments to blocked persons to go into a blocked, interest-bearing U.S. account; it does not authorize new commercial contracts or any other transactions otherwise prohibited under E.O. 13902 or the Iranian Transactions and Sanctions Regulations.