OFAC Publishes Iran General Licenses CC and DD Authorizing Wind-Down Transactions
The licenses permit U.S. persons to complete wind-down payments to listed Iranian entities through 12:01 a.m. EDT Sep 19, 2026 and to finalize civil-aviation related transactions through 12:01 a.m. EDT Sep 23, 2026.
The Office of Foreign Assets Control (OFAC) published two Iran-related general licenses, GL CC and GL DD, in the Federal Register (FR Doc 2026-18576) on September 11, 2026. Both licenses were previously posted on OFAC's website at the time of issuance.
GL CC, issued on September 4, 2026, authorizes the wind-down of any transaction involving the blocked persons Golden Global Yatirim Bankasi Anonim Sirketi; Golden Global Varlik Kiralama Anonim Sirketi; Golden Global Portfoy Yonetimi Anonim Sirketi; or any entity in which those persons hold a 50 percent or greater interest. The authorization is effective through 12:01 a.m. eastern daylight time, September 19, 2026, provided that any payment to a blocked person is made into a blocked, interest-bearing account located in the United States. Paragraph (b) of the license clarifies that no other transactions prohibited by Executive Order 13902 are authorized.
GL DD, issued on September 8, 2026, authorizes the wind-down of transactions previously covered by 31 CFR Sec. 560.522 (overflights of Iranian airspace), 31 CFR Sec. 560.529 (bunkering and emergency repairs), and Iran General License J-1 (temporary re-exportation of certain civil aircraft). The authorization runs through 12:01 a.m. eastern daylight time, September 23, 2026, with the same requirement that payments to blocked persons be made into a blocked, interest-bearing U.S. account. Paragraph (b) limits the license to the transactions described and does not extend to other prohibited activities.
Bradley T. Smith signed both licenses as Director of OFAC. Additional information and the full text of the licenses are available on OFAC's website at https://ofac.treasury.gov/.
Further reading