TITLE: United States Office of Foreign Assets Control Designates Iran-Related Entities and Issues Russia-Related General License
BODY:
On May 28, 2026, the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Russia-related General License 131F, authorizing certain transactions for the negotiation of and entry into contingent contracts for the sale of Lukoil International GmbH and related maintenance activities. OFAC also amended two Russia-related Frequently Asked Questions, FAQ 1224 and FAQ 1225, to provide updated guidance on sanctions compliance.
The primary focus of this action involves Iran-related sanctions enforcement. OFAC added one individual and fourteen entities to its Specially Designated Nationals and Blocked Persons List (SDN List), all designated under Executive Order 13846 for blocking property and interests in property related to Iran. The designated entities include shipping companies, trading firms, and energy-related businesses located across multiple jurisdictions, including Hong Kong, Singapore, Qatar, the Marshall Islands, China, India, the United Arab Emirates, and Liberia. Several entities—including Growth Trading Co., Limited; Mehdiyev Trading Co., Limited; Tida Co., Limited; and Worth Seen Energy Limited—face secondary sanctions risk under Executive Order 13224, as amended by Executive Order 13886, due to their links to Sepehr Energy Jahan Nama Pars Company.
Additionally, OFAC designated eight vessels to the SDN List under Executive Order 13846. These vessels, flagged to various jurisdictions including Panama, Marshall Islands, San Marino, and Cameroon, include chemical tankers, crude oil tankers, and liquefied petroleum gas tankers. The designations target Iran's shadow oil economy, with OFAC describing the action as part of the U.S. government's continued maximum pressure campaign against illicit Iranian oil revenue operations.
All designated individuals, entities, and vessels are subject to comprehensive asset freezes, and U.S. persons are prohibited from engaging in transactions with these targets.
REFERENCES:
Office of Foreign Assets Control. "Iran-related Designations; Issuance of Russia-related General License and Amended Frequently Asked Questions." May 28, 2026. https://ofac.treasury.gov/recent-actions/20260528