The US Treasury Department announced that it has issued a “general license” authorizing limited activities in the Strait of Hormuz, according to a department press release on Tuesday.
The Treasury’s Office of Foreign Assets Control (OFAC) simultaneously issued new sanctions against individuals, ships, and groups involved with Iran, the statement read.
The statement noted that the permitted activities are for “wind-down” purposes, allowing for “limited safety and environmental transactions.”
In addition, the general license allows for the offloading of cargo involving individuals and ships listed under the new sanctions.
Twenty ships are listed under the new sanctions, along with 24 entities and 10 individuals.
According to the general license, wind-down operations are permitted until September 12, and any payments made under the license must be made via specific protocols within the US.
OFAC emphasized that the license does not allow for any new commercial contracts with newly or previously sanctioned groups and individuals.
US Treasury Secretary Scott Bessent said on Saturday that Iranian Supreme Leader Mojtaba Khamenei is “hiding in seclusion while his regime crumbles,” as the US imposed fresh sanctions against Iran’s shadow exchange houses and other Iran-linked individuals.
“Treasury will continue using every tool at its disposal to isolate him and other regime elites from the global financial system,” said Bessent. “We will preserve these assets for the Iranian people.”
A previously-issued general license authorizing the sale of Iranian oil was revoked by the Treasury on July 7 following Iran’s attacks on ships in the Strait of Hormuz.
A US official warned at the time that Iran would face consequences for its actions, saying its attacks were “wholly unacceptable.”
Reuters and Amichai Stein contributed to this report.
