Industrial Policy & Trade Monitor· 2675 actions· ✨ 91 recent

The US Treasury's Office of Foreign Assets Control designated 32 individuals and entities based in Iran, the UAE, Turkiye, China, Hong Kong, India, Germany and Ukraine for operating procurement networks that supply Iran's ballistic missile and UAV programmes, including missile propellant precursors and UAV components. The action is Treasury's second round of nonproliferation sanctions since the 27 September 2025 reimposition of UN sanctions on Iran ("snapback") over its non-compliance with international nuclear and missile commitments. Designated entities include Iran-based Kimia Part Sivan Company (KIPAS), which Treasury says has worked with the IRGC-Qods Force to advance Iran's UAV programme. All property and interests of the designated parties subject to US jurisdiction are blocked, and US persons are generally prohibited from transacting with them.

On 9 October 2025, the US Treasury's Office of Foreign Assets Control (OFAC) designated more than 50 individuals, entities and vessels for facilitating Iranian crude oil, petroleum-product and liquefied petroleum gas (LPG) exports, in a coordinated action with the State Department. The network included 33 vessels transporting Iranian crude and LPG, shipping entities registered in Panama, the Marshall Islands, Ukraine and Liberia, an Iranian petrochemical producer, four Turkish petrochemical trading entities, five Chinese entities importing/refining/storing Iranian petroleum (including a China-based petrochemical-terminal operator, Jiangyin Foreversun Chemical Logistics Co., Ltd.), three Singapore-based logistics entities, and 27 entities based in Hong Kong, the UAE and India engaged in trading and shipping. The action was taken pursuant to the National Security Presidential Memorandum 2 (NSPM-2) maximum-pressure campaign against Iran and blocks all US property/interests of the designated parties, exposing non-US counterparties to secondary-sanctions risk.

On 4 August 2022 OFAC formally published in the Federal Register nine general licenses (GLs 17–25) that had previously been made available only on OFAC's website under EO 14065 (Donetsk/Luhansk regions) and, for GL 25, also EO 13685 (Crimea). GL 17, which authorised wind-down of Donetsk/Luhansk transactions, had already expired on 23 March 2022. GLs 18–25 remain in force and authorise a structured set of humanitarian and civil-society carve-outs — covering agricultural commodities, medicine and medical devices, telecommunications, official international organisation business, personal remittances, internet-based communications, NGO activities, civil maritime services, and journalistic activities — within the otherwise restricted territory of Crimea, the so-called Donetsk People's Republic (DNR), and the Luhansk People's Republic (LNR).

On 13 July 2022 OFAC formally published in the Federal Register two general licenses (GL 2 and GL 10) that had been issued under the Ukraine-/Russia-Related Sanctions program and made available previously only on OFAC's website. Both licenses had already expired by the time of publication: GL 2 (EO 13662 Directive 4 wind-down, expired September 2014) authorised a limited window to wind down contracts involving Russian energy-sector entities subject to sectoral sanctions, while GL 10 (EO 13685 Crimea, expired October 2016) authorised divestiture of holdings in blocked Russian infrastructure entity PJSC Mostotrest. The Federal Register codification is an administrative archival step with no substantive change to the sanctions regime.

Executive Order 14065, signed 21 February 2022, prohibits new investment by US persons in the so-called Donetsk and Luhansk People's Republic (DNR/LNR) regions of Ukraine, bans the importation into the United States of any goods, services or technology from those Covered Regions, and bans exports, reexports, sales or supply to them by or from US persons. It also prohibits US-person approval, financing, facilitation or guarantee of transactions by foreign persons that would be barred if done by a US person. It expands the national emergency first declared in EO 13660.