OFAC Publishes Iran General Licenses AA and BB
The licenses authorize wind-down transactions involving La Nivernaise De Raffinage SAS through Oct. 23 2026 and certain previously sanctioned activities through Sep. 8 2026.
The Office of Foreign Assets Control issued General Licenses AA and BB on August 24, 2026 and published them in the Federal Register. The licenses were previously posted on OFAC's website at the time of issuance.
General License AA authorizes, except as limited in paragraph (b), all transactions prohibited by Executive Order 13902 that are ordinarily incident and necessary to wind down any transaction or maintain operations, contracts, or other agreements in effect as of August 24, 2026 involving La Nivernaise De Raffinage SAS (LNR) or any entity in which LNR owns a fifty-percent or greater interest. Authorization extends through 12:01 a.m. eastern daylight time, October 23, 2026. Paragraph (b) clarifies that the license does not cover any other blocked persons under the executive order.
General License BB authorizes, except as limited in paragraph (b), all transactions prohibited by the Iranian Transactions and Sanctions Regulations that are ordinarily incident and necessary to wind down any transaction previously authorized under one or more of the following general licenses: 31 CFR 560.544, 560.550, 560.554, Iran General License F, or Iran General License G. Authorization extends through 12:01 a.m. eastern daylight time, September 8, 2026, provided any payment to a blocked person is made into a blocked interest-bearing account located in the United States.
Both licenses are available on OFAC's website (https://ofac.treasury.gov). For further information, contact the OFAC Assistant Director for Regulatory Affairs at 202-622-4855 or via the agency's online contact page.
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