meta_id 3119480

On May 1, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Iran-related General License W, authorizing the wind down of transactions involving certain persons blocked on that date. OFAC simultaneously published a new Frequently Asked Question (FAQ 1250) and an alert titled "Sanctions Risks of Iranian Demands for Strait of Hormuz Passage." OFAC also updated its Specially Designated Nationals and Blocked Persons List (SDN List). The designations target individuals and entities involved in Iran's shadow banking and foreign currency networks. Five individuals were added to the SDN List, including Nasser Ghasemi Rad, Pedram Pirouzan, Hossein Mohammad Rezaei, Masoud Mohammad Rezaei, and Ehsan Tahayyori, all subject to secondary sanctions. Additionally, 16 entities were designated, primarily based in Hong Kong, the United Arab Emirates, China, and Iran, with many linked to the designated individuals' exchange and trading networks. These entities include Al Sahra Trade Petro DMCC, Architectonic Corp Limited, Atlas International Trading Limited, Bab Al Khandaq Trading Company LLC, and others. One vessel, the New Fusion (IMO 9277723), an oil products tanker flagged in Panama, was also added to the SDN List and linked to Thriving Times International Co Ltd. The designations fall under Executive Order 13902 and Executive Order 13846, which target Iran's financial sector and block property and interests in property. Entities and individuals designated under these orders are subject to comprehensive sanctions, and U.S. persons are generally prohibited from engaging in transactions with them. General License W permits the wind down of existing transactions with newly designated persons through a specified deadline.