On October 1, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a determination under Section 1(a)(i) of Executive Order (“EO”) 13902 that extends sanctions to the automotive and rail sectors of the Iranian economy, designated 28 entities and two individuals under its Iran-related authorities, amended FAQ 831 to broaden its description of the financial sector of the Iranian economy, and designated the Russia-linked A7 Network as a significant transnational…
On August 24, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) launched Operation Economic Outcast, a campaign that OFAC has characterized as an “economic D-Day” against Iran. The action follows OFAC’s earlier “Economic Fury” campaign against Iran, on which we have previously reported here and here. OFAC stated these actions “mark the beginning of a sustained and systematic campaign to close every financial resource that supports the leading state sponsor…
On August 26, 2026, President Trump issued Executive Order 14420, “Declaring a National Emergency to Secure the United States Bulk-Power System” (“EO 14420”), which aims to prevent certain foreign actors from creating or exploiting vulnerabilities in foreign-produced equipment used in the US bulk-power system. EO 14420 builds on and significantly expands Executive Order 13920, “Securing the United States Bulk-Power System” (“EO 13920”), which the Trump administration issued in 2020 and formed the basis of an…
On July 23, 2026, the US Department of State designated multiple entities and individuals in Cuba, and the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued three new Cuba-related general licenses. The actions are intended to further restrict revenue streams supporting the Cuban government, including activities tied to the energy sector, sanctions evasion networks, financial services, and Cuba’s overseas medical missions program. The designations and general licenses were issued under Executive…