US Issues Amended Iran-Related General License - OFAC

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is revoking Iran-related General License X and issuing Iran-related General License X1, for the "Revocation and Wind Down of June 21, 2026 Authorization for the Production, Delivery and Sale of Crude Oil, Petrochemical Products, and Petroleum Products of Iranian Origin." Effective July 7, 2026, General License X, dated June 21, 2026, is replaced and superseded in its entirety by this General License X1. READ HERE