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OFFICE OF FOREIGN ASSETS CONTROL
Executive Order 13846 of August 6, 2018 (“Reimposing Certain Sanctions With Respect to Iran”)
GENERAL LICENSE W
Authorizing the Wind Down of Transactions Involving Certain Persons Blocked on May 1, 2026
(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by Executive Order (E.O.) 13846 that are ordinarily incident and necessary to the wind down of any transaction involving Qingdao Haiye Oil Terminal Co., Ltd., or any entity in which it owns, directly or indirectly, a 50 percent or greater interest, are authorized through 12:01 a.m. eastern daylight time, May 31, 2026, provided that any payment to a blocked person must be made into a blocked, interest-bearing account located in the United States.
(b) This general license does not authorize any transactions otherwise prohibited by...
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1) This is a standard wind-down general license, authorizing the processing of underlying transactions that may not involve U.S. persons (see e.g., FAQ 807), but not including authorizations for the "maintenance" of activities.
2) With respect to the scope of the typical "wind-down" GL, consult the relevant portions of Examples of Transactions Deemed to be, and not to be, Within the Scope of the Standard "Wind-down" and "Maintenance" GLs.
3) See relevant designation notice at United States Sanctions Network Facilitating Iran’s Illicit Oil Trade (Fact Sheet).