TITLE: United States Office of Foreign Assets Control Issues Iran General License Z and Updates Sanctions Designations
BODY:
On July 14, 2026, the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Iran General License Z, "Authorizing Wind Down Activities, Limited Safety and Environmental Transactions, and the Offloading of Cargo Involving Certain Persons or Vessels Blocked on July 14, 2026." Simultaneously, OFAC updated the Specially Designated Nationals and Blocked Persons List (SDN List), adding numerous individuals, entities, and vessels linked to what OFAC described as an expansive illicit shipping empire.
The designations target individuals and shipping-related entities primarily based in the United Arab Emirates, Iran, and other jurisdictions. Nine individuals were added to the SDN List, including Asghar Aghili Dehkordi, Behzad Moghadas, Mohammad Reza Rahbar Madani, Ali Rakhbarmadani, and Hossein Ghorbani Zahed, many of whom are linked to Mohammad Hossein Shamkhani. Additionally, 26 entities were designated, including shipping companies such as Sepehr Noor Mobin Company, Sea Lead Shipping PTE. Ltd., Lubeck Shipping LLC, and Volta Shipping Services LLC, along with management and consulting firms. OFAC also designated 18 vessels, including general cargo ships, container ships, and tankers flagged to various jurisdictions including Iran, Panama, Antigua and Barbuda, and Palau.
OFAC made updates to the existing SDN List entry for Bank Markazi Jomhouri Islami Iran (Central Bank of Iran), adding five additional digital currency addresses on the Tron (TRX) blockchain network to its existing designations. All designations reference Executive Order 13902 and are subject to secondary sanctions. Individuals and entities are advised to review OFAC's SDN List and ensure compliance with all applicable sanctions regulations.