OFAC FAQ (Current) # 1249 - Iran Sanctions

Date issued: Apr. 28 2026

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (243 words)

Notes:

1) This FAQ comes several weeks after the Iranian government set up a “toll” system for transit through the Strait of Hormuz, which appears to involve vessels registering vessels with the IRGC Navy and paying a “toll” for safe passage. Here, OFAC confirms that such payments are prohibited for “U.S. persons, including U.S. financial institutions, or for U.S.-owned or -controlled foreign entities.” The basis for the “U.S.-owned or -controlled foreign entities” statement is 560.215 of the ITSR.

2) The reporting available as of April 28, 2026 indicates that the “toll” system involves transiting the Strait of Hormuz through islands very close to the Iranian cost, and in any even in Iranian territorial waters. Query whether passage through the Straight of Hormuz through that area...