US OFAC Issues Iran 'General License X' Valid Until August 21, 2026 As of 12:01 AM Eastern Time on August 21, 2026, authorization is granted under relevant sanctions regulations for transactions that are customary and necessary for the production, sale, delivery, or offloading of crude oil, petrochemical products, and petroleum products originating from Iran, including transactions involving sanctioned vessels. The license also covers services such as safe berthing, crew safety, emergency repairs, environmental protection, vessel management, staffing, refueling, piloting, registration, flagging, insurance, classification, and salvage. If necessary, it permits the import of related products into the US and allows payments in USD to Iran, the Iranian government, or sanctioned individuals. Transactions involving North Korea, Cuba, Crimea, and specific regions of Ukraine remain excluded.