OFAC publishes Iran general licenses U and V
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published two Iran-related general licenses—GLs U and V—on its website as of June 10, 2026. These authorizations expand the framework for certain transactions involving Iran while remaining subject to OFAC sanctions compliance requirements. Shippers and exporters engaged in Iran-related trade must review the specific conditions of these licenses to determine eligibility and ensure lawful transaction structuring.
Photo: Alican Helik / Pexels# OFAC Publishes Iran General Licenses U and V
On June 10, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published two Iran-related general licenses: General Licenses U and V. According to the Federal Register notice, "The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs U and V. These GLs were previously made available on OFAC's website."
General licenses are standing authorizations that permit categories of transactions without requiring specific prior approval from OFAC, provided all conditions are met. The publication of these Iran-specific licenses in the Federal Register signals formal notice of their availability and establishes their legal effect for compliance purposes.
Any person, entity, or freight forwarder arranging shipments involving Iranian parties, goods of Iranian origin, or transactions with Iran-connected counterparties must carefully review the terms and conditions of GLs U and V. General licenses typically include restrictions on transaction amounts, beneficiary classes, end-use certifications, and reporting obligations. Failure to satisfy every condition renders the license inapplicable, exposing the transaction to sanctions enforcement risk, civil penalties up to $20 million per violation, and criminal liability.
The OFAC Sanctions Compliance Program should be consulted to confirm whether a proposed transaction qualifies under these licenses. Shippers must ensure that all parties in the supply chain—including freight forwarders, customs brokers, and logistics providers—are screened against the Specially Designated Nationals (SDN) List and other OFAC blocked-party databases before proceeding.
What this means for shippers
If your supply chain touches Iran—whether directly or through intermediaries—you must immediately obtain and review GLs U and V from OFAC's website and legal counsel. Do not assume a transaction is permitted; verify each condition. Screen all parties against the SDN List before booking freight. Non-compliance carries civil fines up to $20 million and criminal prosecution. Screen all parties now with our sanctions tool.
