Rule2026-19424
Publication of Iran-Related Web General Licenses Y and Z
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 23, 2026
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs Y and Z. These GLs were previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 91 Issue 183 (Wednesday, September 23, 2026)</title>
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[Federal Register Volume 91, Number 183 (Wednesday, September 23, 2026)]
[Rules and Regulations]
[Pages 60304-60306]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-19424]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 594
Publication of Iran-Related Web General Licenses Y and Z
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing two Iran-related general licenses (GLs):
GLs Y and Z. These GLs were previously made available on OFAC's
website.
DATES: GL Y was issued on July 10, 2026. See SUPPLEMENTARY INFORMATION
for additional relevant dates.
[[Page 60305]]
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Regulatory Affairs, 202-622-4855; or <a href="https://ofac.treasury.gov/contact-ofac">https://ofac.treasury.gov/contact-ofac</a>.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="https://ofac.treasury.gov/">https://ofac.treasury.gov/</a>.
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
(<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) 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.
Annex--Blocked Persons and Vessels Described in Paragraph (a) of General
License Z
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Blocked person Blocked vessel name IMO No.
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Aare Lines Inc..................... NADIA................. 9122461
Ava Tarabar Darya Company.......... SEPEHR PAYAM.......... 9110535
Hope 1 Shipping Inc................ HOPE 1................ 9514339
Kangri 1 Inc....................... CICCIO................ 9192442
Lubeck Shipping LLC................ GEMMA................. 9509097
Nuvettro Shipping Inc.............. JADE.................. 9418999
Ocean Searum One Limited........... ELPINIKI (a.k.a. 9606015
``CORN'').
[[Page 60306]]
Sea Lead Shipping PTE. Ltd......... PAYA LEBAR............ 9134232
Sea Lead Shipping PTE. Ltd......... SHENTON WAY........... 9146314
Sea Lead Shipping PTE. Ltd......... TANJONG PAGAR 1....... 9404508
Veltrrivo Shipping Inc............. OPAL.................. 9467158
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Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2026-19424 Filed 9-22-26; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on September 23, 2026.
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