The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is consolidating previously existing information regarding enforcement procedures and penalties, including the rights of U.S. persons being investigated for violations, that are currently located in individual parts of 31 CFR chapter V into a new part, the Sanctions Penalties Regulations. Following publication of this part, OFAC will update parts within 31 CFR chapter V to replace existing penalties information with cross-references to the Regulations, resulting in the deletion of over 100 subparts from existing regulations.
Additionally, OFAC is amending the Terrorism List Governments Sanctions Regulations to implement changes resulting from the rescission of the designation of Syria as a State Sponsor of Terrorism. Specifically, OFAC is removing and reserving a Syria-specific general license because the authorization is no longer necessary following the rescission.
Finally, OFAC has released a Quarterly Report of Licensing Activities pursuant to Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities undertaken by OFAC under Section 906(a)(1) of the TSRA from April through June 2026. Under the procedures established in its TSRA-related regulations, OFAC processes license applications requesting authorization to export agricultural commodities, medicine, and medical devices to Iran under the specific licensing regime set forth in Section 906 of the TSRA.