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Electronic Availability

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Background

On July 10, 2026, OFAC issued GL Y to authorize certain transactions otherwise prohibited by the Global Terrorism Sanctions Regulations, 31 CFR part 594 and Executive Order (E.O.) 13876 of June 24, 2019, “Imposing Sanctions With Respect to Iran” (83 FR 30573, June 26, 2019). On July 14, 2026, OFAC issued GL Z to authorize certain transactions otherwise prohibited by E.O. 13902 of January 10, 2020, “Imposing Sanctions With Respect to Additional Sectors of Iran” (85 FR 2003, January 14, 2020). GL Y expired August 9, 2026. GL Z expired on September 12, 2026. Both GLs were made available on OFAC's website ( ofac.treasury.gov) when they were issued. The text of these GLs is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Global Terrorism Sanctions Regulations

31 CFR Part 594

Executive Order 13876 of June 24, 2019 (“Imposing Sanctions With Respect to Iran”)

GENERAL LICENSE Y

Authorizing the Wind Down of Transactions Involving Smart Global Limited

(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), and Executive Order (E.O.) 13876 that are ordinarily incident and necessary to the wind down of any transaction involving Smart Global Limited, or any entity in which Smart Global Limited owns, directly or indirectly, a 50 percent or greater interest, are authorized through 12:01 a.m. eastern daylight time, August 9, 2026, provided that any payment to a blocked person must be made into a blocked account in accordance with the GTSR.

(b) This general license does not authorize any transactions otherwise prohibited by the GTSR or E.O. 13876, including transactions involving any person blocked pursuant to the GTSR or E.O. 13876 other than the blocked persons described in paragraph (a) of this general license, unless separately authorized.

Lisa M. Palluconi,

Deputy Director, Office of Foreign Assets Control.

Dated: July 10, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Executive Order 13902 of January 10, 2020 (“Imposing Sanctions With Respect to Additional Sectors of 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

(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by Executive Order (E.O.) 13902 that are ordinarily incident and necessary to one or more of the following activities involving the blocked persons listed in the Annex to this general license, and any entity in which those blocked persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest (collectively the “Blocked Persons”), or the blocked vessels listed in the Annex to this general license (the “Blocked Vessels”), are authorized through 12:01 a.m. eastern daylight time, September 12, 2026, provided that any payment to a blocked person must be made into a blocked interest-bearing account located in the United States:

(1) The wind down of any financial transaction involving the Blocked Persons or Blocked Vessels;

(2) The safe docking and anchoring in, and departure from, any port, excluding ports located in Iran or the Russian Federation, or under the control of the Government of Iran or the Government of the Russian Federation, of the Blocked Vessels;

(3) The preservation of the health or safety of the crew of any of the Blocked Vessels;

(4) Emergency repairs of any of the Blocked Vessels or environmental mitigation or protection activities relating to any of the Blocked Vessels; or

(5) The delivery and offloading of cargo involving the Blocked Vessels, provided that the cargo was loaded on or before July 14, 2026, and that the delivery and offloading of cargo does not occur at any port located in Iran or the Russian Federation or under the control of the Government of Iran or the Government of the Russian Federation.

Note 1 to paragraph (a).

The authorization in paragraph (a) of this general license includes services such as vessel management, crewing, bunkering, piloting, registration, flagging, insurance, classification, and salvage.

(b) This general license does not authorize:

(1) The entry into any new commercial contracts involving the property or interests in property of any blocked persons, including the blocked persons described in paragraph (a) of this general license, except as authorized by paragraph (a); or

(2) Any transactions or activities prohibited by E.O. 13902, except as authorized by paragraph (a) of this general license, or any transaction or activity prohibited by any other E.O. or any part of 31 CFR chapter V, including any transaction or activity involving Iran, the Government of Iran, or Iranian-origin goods or services that is prohibited by the Iranian Transactions and Sanctions Regulations (31 CFR part 560).

Lisa M. Palluconi,

Deputy Director, Office of Foreign Assets Control.

Dated: July 14, 2026.

91 FR 60304