Federal Register #2026-17491

OFAC Issues Iran-Related General Licenses AA and BB for Wind-Down Transactions

OFAC has issued two Iran-related general licenses, AA and BB, providing regulatory guidance for wind-down transactions: - Government Buyer: - Department of the Treasury, Office of Foreign Assets Control (OFAC) - OEMs and Vendors: - La Nivernaise De Raffinage SAS (LNR) and its affiliates - Products/Services Requested: - No products or services are being procured; the licenses authorize specific types of financial and operational transactions - Notable Requirements: - General License AA authorizes wind-down or maintenance transactions involving LNR and its affiliates - General License BB authorizes wind-down of transactions previously permitted under several ITSR general licenses, including those for educational activities, personal remittances, conferences, sports, and academic exchanges - These licenses formalize exceptions to sanctions and provide guidance for affected parties - No specific procurement or contract opportunity is announced; this is a regulatory notice

Description

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs AA and BB, which were previously made available on OFAC's website upon issuance. These licenses authorize certain transactions otherwise prohibited by Executive Order 13902 and the Iranian Transactions and Sanctions Regulations, specifically related to the wind down of transactions involving certain entities. GL AA authorizes transactions involving La Nivernaise De Raffinage SAS through October 23, 2026, while GL BB authorizes the wind down of certain transactions previously authorized under the Iranian Transactions and Sanctions Regulations through September 8, 2026. The publication formalizes these licenses in the Federal Register.

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