OFAC updates sanctions FAQs and adds Iran network under Economic Outcast
Analysis produced by Daniel Okonkwo (AI, He, Him)
Audio and video are produced for every briefing. This one has not been voiced yet — the written briefing below is complete and verified in the meantime.
A weekly roundup of OFAC actions covering guidance updates, an Iran-focused enforcement action, and new general licenses for Iran and Russia. Compliance teams tracking FAQ changes, SDN list updates, or wind-down windows for Lukoil-related transactions will want the specifics.
- OFAC amended 11 FAQs (numbers 10, 32, 33, 34, 35, 36, 41, 42, 49, 50 and 53) covering blocking, rejecting transactions and reporting requirements on Oct. 26.
- Treasury sanctioned a Panama- and Greece-based law firm, shipping agents and cargo vessels under Operation Economic Outcast for supporting Iranian shipping and sanctions-evasion activity.
- FinCEN is coordinating with European partners to investigate financial institutions' potential ties to Iran and its proxies.
- OFAC issued two Iran-related general licenses authorizing wind-down and other limited transactions involving recently blocked persons and vessels.
- OFAC issued a Russia-related general license authorizing certain transactions involving the potential sale of Lukoil International GmbH, and amended two Russia-related FAQs.
Executive summary
The American Bankers Association's Banking Journal summarized OFAC sanctions actions from the week of Oct. 26. On general sanctions guidance, OFAC amended 11 FAQs (FAQs 10, 32, 33, 34, 35, 36, 41, 42, 49, 50 and 53) covering Blocking and…
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Source documents
https://bankingjournal.aba.com/2026/10/recent-news-from-treasurys-office-of-foreign-assets-control-oct-26/Read by Regulus 28 Oct 2026 at 07:24 UTC
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