By Newspot Nigeria Global Desk
The United States Department of the Treasury has announced a fresh update to its Iran-related sanctions regime, expanding the list of blocked persons and vessels while issuing narrowly tailored general licences to allow limited safety, environmental, and wind-down activities.
In an update released by the Office of Foreign Assets Control (OFAC) on December 18, 2025, the U.S. government confirmed amendments to the Specially Designated Nationals and Blocked Persons (SDN) List and the Foreign Sanctions Evaders (FSE) List, alongside the issuance of two new general licences tied to Iran and the International Criminal Court (ICC).
Under Iran-related General License S, OFAC authorized strictly limited transactions involving certain vessels and shipping companies that were newly designated on December 18. The licence permits activities considered ordinarily incident and necessary for safety and environmental protection, including safe docking, emergency repairs, crew health and safety, insurance, bunkering, piloting, and the offloading of non-Iranian cargo loaded before the designation date.
However, the authorization comes with tight restrictions. The licence does not allow:
- New commercial contracts involving blocked persons,
- Transactions involving Iranian-origin goods,
- Any activity occurring in Iran, Russia, or Venezuela, or under the control of those governments,
- Or any payments to blocked persons outside interest-bearing accounts in the United States.
OFAC also released an annex identifying dozens of affected vessels and shipping firms, including entities linked to Phoenix Ship Management FZE, Kudos Shipping Inc., Red Sea Ship Management LLC, and others, spanning vessels such as Nebula Drift, Aether Sail, Golden Eagle, Skylight, and Sea Citrine VI.
Separately, the Treasury issued International Criminal Court–Related General License No. 11, allowing the limited wind-down of transactions involving specific individuals designated under ICC-related sanctions. These wind-down activities are authorized only until January 17, 2026, and are similarly subject to strict compliance conditions.
According to OFAC, the licences are designed to prevent environmental harm, ensure maritime safety, and allow for orderly disengagement from sanctioned entities—without weakening the broader sanctions framework targeting Iran’s maritime networks and sanctions evasion mechanisms.
The update underscores Washington’s continued use of targeted sanctions combined with narrow humanitarian and safety carve-outs, particularly in global shipping and financial systems, where abrupt enforcement could pose environmental or human risks.
Newspot Nigeria will continue to monitor developments around global sanctions regimes and their implications for international trade, energy markets, and maritime operations.
