US OFAC sanctions Iran network and issues General License W
→Sanctions teams must screen May 1 Iran SDNs and check GL W coverage
Change
US OFAC added Iran-related individuals and entities to the SDN List, issued General License W for wind-down transactions, published FAQ 1250 and released an Iran-related sanctions alert.
Why it matters
Iran sanctions screening now depends on new SDN entries and General License W wind-down limits. Payments, trade-finance and maritime teams handling Iran-linked exposure must check whether activity is blocked, authorised for wind-down or exposed to Strait of Hormuz sanctions risk.
Implications
- → Sanctions screening teams must add the May 1 Iran-related SDN entries to customer, counterparty and payment filters immediately — missed matches can create blocked-property exposure.
- → Payments and trade-finance teams must check General License W before processing wind-down activity — only covered transactions involving May 1 blocked persons may fall within the authorisation.
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Source
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