Tag: general_license

US Treasury Amends Iran Sanctions License for Oil and Petrochemical Wind-Down

7 Jul 2026 3:13 p.m. · Source: US Treasury

OFAC has revoked Iran-related General License X, replacing it with General License X1. This new license, effective July 7, 2026, mandates the wind-down of authorization for the production, delivery, and sale of Iranian crude oil and petrochemical products.

Politics and Government Business World Federal Government Economy Trade Middle East OFAC Iran Sanctions General License Crude Oil Petrochemical Products Petroleum Products US Treasury