OFAC Publishes General License W for Iran-Related Transactions
Effective through May 31 2026, the license authorizes wind-down of dealings with Qingdao Haiye Oil Terminal and its controlled entities.
The Office of Foreign Assets Control published General License W in the Federal Register (Vol. 91, No. 218, page 73142) on November 13, 2026. The license, originally issued on May 1, 2026, authorizes the wind-down of any transaction involving Qingdao Haiye Oil Terminal Co., Ltd., or any entity in which it owns directly or indirectly a 50 percent or greater interest.
Under the license, all transactions otherwise prohibited by Executive Order 13846 that are incident and necessary to the wind-down are authorized through 12:01 a.m. eastern daylight time, May 31, 2026. Payments to a blocked person must be made into a blocked, interest-bearing account located in the United States.
The license expressly does not authorize any other transactions prohibited by EO 13846, including those involving any other person blocked pursuant to the order, unless a separate authorization is issued.
General License W was signed by Bradley T. Smith, Director of OFAC, and is filed under FR Doc 2026-23193. The full text and related information are available on OFAC's website at https://ofac.treasury.gov/.
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