Publication of Iran-Related Web General License W

What it does

• •Authorizes transactions otherwise prohibited by Executive Order 13846 (Iran sanctions) that are necessary to wind down operations involving Qingdao Haiye Oil Terminal Co., Ltd. and entities in which it holds 50% or greater ownership.
• •Permits such wind-down transactions through May 31, 2026, with the requirement that any payments to blocked persons be deposited into blocked, interest-bearing accounts in the United States.
• •Excludes from authorization any transactions involving other persons blocked under E.O. 13846 unless separately authorized.

Why it matters

• •Provides a time-limited exemption from Iran sanctions to allow orderly cessation of business activities with a specific blocked entity rather than abrupt termination.
• •Maintains sanctions compliance by restricting payments to blocked accounts in the U.S., preventing funds from reaching blocked parties outside the financial system.

Who is affected

• •Entities conducting transactions with Qingdao Haiye Oil Terminal Co., Ltd. or its majority-owned subsidiaries.
• •Persons and organizations subject to Executive Order 13846 Iran-related sanctions.

What happens next

This general license expired on May 31, 2026, as stated in the text; the Federal Register publication on November 13, 2026 is a formalization of the license that was previously available on OFAC's website.