Publication of an Iran-Related Determination
What happened
The Department of the Treasury's Office of Foreign Assets Control (OFAC) published a determination on October 13, 2026, to apply sanctions to Iran's automotive and rail sectors. This action was taken pursuant to Executive Order 13902 of January 10, 2020, which targets additional sectors of the Iranian economy. The determination was made by the Director of OFAC, Bradley T. Smith, in consultation with the Department of State, and took effect on October 1, 2026.
Why it matters
This action expands the scope of U.S. economic sanctions against Iran, specifically targeting its automotive and rail industries. Persons determined to operate in these sectors will now face property and interest in property blockages if they are in or come within the United States, or are controlled by a U.S. person.
Who it affects
- ›Iran's automotive sector
- ›Iran's rail sector
- ›Persons operating in these sectors
- ›U.S. persons interacting with these sectors
The receipts are official. The summary is ours.
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