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United States Treasury Department Consolidates Sanctions Penalties Regulations and Amends Terrorism List Restrictions

On September 24, 2026, the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) published regulatory amendments consolidating enforcement procedures and penalties information across its sanctions regulations. OFAC is creating a new part within Title 31, Code of Federal Regulations (CFR) Chapter V, titled the Sanctions Penalties Regulations, which will consolidate previously dispersed information regarding enforcement procedures, civil penalties, and the rights of U.S. persons under investigation for violations. This consolidation will result in the deletion of more than 100 subparts from existing regulations within 31 CFR Chapter V, with those parts updated to cross-reference the new consolidated regulations instead. Additionally, OFAC amended the Terrorism List Governments Sanctions Regulations to implement changes resulting from the rescission of Syria's designation as a State Sponsor of Terrorism. Under this amendment, OFAC removed and reserved a Syria-specific general license, as the authorization is no longer necessary following the rescission. OFAC also released its Quarterly Report of Licensing Activities pursuant to Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities undertaken under Section 906(a)(1) of the TSRA from April through June 2026. Under TSRA procedures, OFAC processes license applications authorizing the export of agricultural commodities, medicine, and medical devices to Iran under the specific licensing regime established in Section 906 of the TSRA. These amendments streamline OFAC's regulatory framework while reflecting geopolitical developments affecting sanctions designations. REFERENCES: Office of Foreign Assets Control. "Publication of Regulatory Amendments; Publication of Report for Licensing Activities Undertaken Pursuant to the Trade Sanctions Reform and Export Enhancement Act (TSRA)." September 24, 2026. https://ofac.treasury.gov/

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US Office of Foreign Assets Control Issues Consolidated Sanctions Penalties Regulations and Syria-Related Amendments

On September 24, 2026, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) published two final rules and a quarterly licensing report. OFAC introduced the Sanctions Penalties Regulations (31 CFR Part 505), consolidating enforcement procedures and civil penalties currently located in individual parts of 31 CFR chapter V. The new part covers penalties under the International Emergency Economic Powers Act (IEEPA), capped at the greater of $377,700 or twice the transaction value, and the United Nations Participation Act (UNPA). OFAC said no substantive changes are being made to existing penalty provisions. Following publication, OFAC will delete more than 100 subparts from existing regulations and replace them with cross-references to the new part, standardizing penalty provisions across sanctions programs. OFAC also amended the Terrorism List Governments Sanctions Regulations (31 CFR Part 596), removing and reserving § 596.505, a Syria-specific general license. The amendment follows the Secretary of State's rescission, effective August 24, 2026, of Syria's State Sponsor of Terrorism designation. Syria is no longer a Terrorism List Government under the Regulations, rendering the general license unnecessary. Both final rules are effective September 25, 2026, upon Federal Register publication. Separately, OFAC published its Quarterly Report of Licensing Activities under Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering April through June 2026, detailing license applications for exports of agricultural commodities, medicine, and medical devices to Iran.

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US Office of Foreign Assets Control Consolidates Sanctions Penalties Regulations and Amends Terrorism List Restrictions

On September 24, 2026, the US Office of Foreign Assets Control (OFAC) published several regulatory changes consolidating enforcement procedures and penalties information across its sanctions regulations. Specifically, OFAC created a new part within Title 31, Code of Federal Regulations (CFR) Chapter V (Sanctions Penalties Regulations), which consolidates previously dispersed information regarding enforcement procedures, civil penalties and the rights of US individuals and entities under investigation for regulatory violations. This consolidation results in the deletion of more than 100 sub-parts from existing regulations within 31 CFR Chapter V, with parts updated to cross-reference the new consolidated regulations instead. Additionally, OFAC amended its Terrorism List Governments Sanctions Regulations to implement changes resulting from the rescission of Syria's designation as a state sponsor of terrorism. Under the amendments, OFAC removed and reserved a Syria-specific general license, as its transaction authorizations are no longer necessary following the rescission. OFAC also released its Quarterly Report of Licensing Activities pursuant to Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities undertaken under Section 906(a)(1) of the TSRA from April through June 2026. Under TSRA procedures, OFAC processes license applications authorizing the export of agricultural commodities, medicine and medical devices to Iran under the specific licensing regime established in the TSRA.