Federal Register #2026-23197

OFAC Iran-related licenses authorize limited transaction wind-downs

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued two Iran-related authorizations for limited transaction wind-downs, not a procurement opportunity. - Government office: U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC). - Entities named: Samudra Marine Services Private Limited; International Development Bank for Investment and Finance, also known as Iraq Development Bank; and entities each named organization owns at least 50 percent of. - Authorizations: General License EE covered certain transactions ordinarily incident and necessary to wind down dealings involving Samudra Marine Services Private Limited and qualifying owned entities. General License FF provided similar limited wind-down authorization for International Development Bank for Investment and Finance and qualifying owned entities. - Important restrictions: Payments to covered blocked persons had to be placed in blocked accounts; payments under License EE were required to go into a blocked, interest-bearing account in the United States. The licenses did not authorize other prohibited transactions, including dealings with other blocked persons unless separately authorized. - Procurement scope: No products, services, quantities, part numbers, or contract performance requirements are identified.

Description

The Department of the Treasury’s Office of Foreign Assets Control is publishing two Iran-related general licenses, EE and FF, which were made available on OFAC’s website when issued. GL EE authorized certain transactions involving Samudra Marine Services Private Limited during a wind-down period and expired on October 23, 2026. GL FF authorized certain transactions involving International Development Bank for Investment and Finance during a wind-down period and expired on October 30, 2026. The document states that comments are not open.

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