Publication of Iran-Related Web General Licenses EE and FF

What it does

• •Publishes General License EE, which authorizes wind-down transactions involving Samudra Marine Services Private Limited and entities it owns 50% or more of, otherwise prohibited under Executive Order 13846, through October 23, 2026.
• •Publishes General License FF, which authorizes wind-down transactions involving International Development Bank for Investment and Finance (Iraq Development Bank) and entities it owns 50% or more of, otherwise prohibited under Iranian Transactions and Sanctions Regulations, through October 30, 2026.
• •Requires that any payments to blocked persons under both licenses must be deposited into blocked accounts located in the United States (GL EE) or in accordance with ITSR regulations (GL FF).
• •Specifies that both licenses do not authorize transactions involving other blocked persons unless separately authorized.

Why it matters

• •These licenses provide temporary authorization for entities to complete ongoing business activities with sanctioned parties that would otherwise violate Iran sanctions regulations, allowing orderly conclusion of existing commitments.
• •The licenses establish conditions and deadlines for compliance, ensuring sanctioned transactions are wound down rather than left in legal limbo while protecting U.S. financial system integrity through blocked account requirements.

Who is affected

• •Entities conducting transactions with Samudra Marine Services Private Limited or International Development Bank for Investment and Finance (Iraq Development Bank) and their majority-owned subsidiaries.
• •U.S. financial institutions holding blocked accounts for payments related to these wind-down transactions.

What happens next

These general licenses expire on their stated dates (GL EE on October 23, 2026, and GL FF on October 30, 2026) unless extended or modified by OFAC.