While the update involves sanctions screening obligations that payment institutions must follow, it is primarily a geopolitical sanctions designation rather than a payments-specific regulatory change.
Low confidence — requires human review. The update tangentially affects payment processors' compliance obligations for sanctions screening, but does not directly regulate payment services or third-party payment arrangements.
Specialism
The update explicitly designates an Iranian entity on OFAC's SDN List under counter-terrorism and Iran sanctions programmes, requiring asset blocking and transaction screening—core sanctions compliance obligations.
The designation carries secondary sanctions risk and requires financial institutions to screen transactions and block assets, which involves regulatory reporting and compliance monitoring elements, though sanctions is the dominant focus.
2026-05-28 13:04:27·pdonofrio@vixio.com
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TITLE: United States Office of Foreign Assets Control Adds Iranian Entity to Sanctions Designation List
BODY:
On May 27, 2026, the United States Office of Foreign Assets Control (OFAC) added the Persian Gulf Strait Authority to its Specially Designated Nationals (SDN) List. The Persian Gulf Strait Authority, a government entity established in 2026, was designated under counter-terrorism authority and Iran-related sanctions programmes.
OFAC designated the entity under section 1(b) of Executive Order 13224, as amended by Executive Order 13886. The designation carries secondary sanctions risk, meaning that persons or entities engaging in transactions with the Persian Gulf Strait Authority may themselves face sanctions exposure. OFAC linked the designation to the Islamic Revolutionary Guard Corps (IRGC), indicating that the authority operates in connection with or on behalf of the IRGC.
The Persian Gulf Strait Authority's website is https://pgsa.ir. The entity is designated under the SDGT (Specially Designated Global Terrorist) and IFSR (Iran Foreign Sanctions Risk) categories. This designation prohibits U.S. persons and entities from engaging in transactions with the Persian Gulf Strait Authority, and requires the blocking of any assets it holds within U.S. jurisdiction. Financial institutions and other entities conducting international business must screen their customers and transaction counterparties against OFAC's SDN List to ensure compliance with sanctions obligations. The designation is effective immediately upon publication.
Iran-related Designation; Counter Terrorism Designation | Office of Foreign Assets Control Skip to main content The .gov means it’s official. Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site. The site is secure. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Enter Search Term(s): Specially Designated Nationals List (SDN List) Consolidated Sanctions List (Non-SDN Lists) Additional Sanctions Lists Search OFAC's Sanctions Lists Sanctions Programs and Country Information Recent Actions OFAC License Application Page Additional OFAC Resources Frequently Asked Questions Civil Penalties and Enforcement Information OFAC Reporting System Selected General Licenses Issued by OFAC Contact OFAC Iran-related Designation; Counter Terrorism Designation Release Date 05/27/2026 Recent Actions Body Specially Designated Nationals List Updates The following entity has been added to OFAC's SDN List: PERSIAN GULF STRAIT AUTHORITY (Arabic: نهاد مدیریت آبراه خلیج فارس), Iran; Website https://pgsa.ir ; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Organization Established Date 2026 [SDGT] [IFSR] (Linked To: ISLAMIC REVOLUTIONARY GUARD CORPS). Unrelated Administrative List Changes: None Filter by Category All Recent Actions Enforcement Actions General Licenses Miscellaneous Regulations and Guidance Sanctions List Updates Search All Recent Actions (enter keywords) Start Date (format: MM/DD/YYYY) End Date (format: MM/DD/YYYY) Search by Year (format: YYYY) Sign up for OFAC Recent Actions e-mail updates