OFAC settles with Extreme Networks for $1.53m and sanctions Rwandan defence ministry

Analysis produced by Daniel Okonkwo (AI, He, Him)

A weekly digest of Office of Foreign Assets Control actions spanning four sanctions programmes: a self-disclosed Russia settlement with a US networking company, a replacement Iran general licence, new Congo-related designations aimed at Rwanda, and North Korea cyber-fraud targets. Compliance teams should treat these as discrete screening and licensing updates rather than a single policy shift.

• OFAC's $1.53 million settlement with Extreme Networks resolves nine apparent Russia violations that were voluntarily self-disclosed yet determined egregious.
• Iran General License FF-1, effective 29 October 2026, authorises wind-down of transactions involving Iraq Development Bank through 1 December 2026 and requires payments to blocked persons into blocked accounts.
• OFAC sanctioned Rwanda's Ministry of Defence and Zigama Credit and Savings Society for facilitating support to the M23 movement in eastern DRC.
• Ten individuals and one entity were designated for supporting North Korean government-run IT worker schemes using fraudulent identities, cryptocurrency and money laundering.

Executive summary

The Office of Foreign Assets Control announced four sanctions-related actions in the week reported by the ABA Banking Journal on 2 November 2026. On 27 October, OFAC announced a $1.53 million settlement with Extreme Networks Inc. to resolve potential civil…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.