TREE NEWS update: The US Treasury’s OFAC sanctioned 16 Iran-related individuals and multiple firms and financial institutions, including Iraq’s International Development and Investment Bank, Iran’s Chabahar International Offshore Bank, Jazeera International Bank and several currency exchange companies. OFAC also blacklisted Cuba’s Banco Internacional de Comercio (BICSA). Two Russia-related general licenses were issued covering Lukoil retail fuel stations outside Russia and Lukoil entities in Bulgaria, plus an Iran general license for the orderly wind-down of transactions involving the International Development and Investment Bank.
US Treasury Sanctions 16 Iran-Linked Targets, Adds Cuba’s BICSA
The design matters more than the count: OFAC paired new designations with a wind-down license for one Iraqi bank, signaling a preference for managed exit over abrupt cutoff while still tightening Iran's banking and FX channels. The inclusion of Cuba's BICSA extends the same compliance perimeter to a jurisdiction already under broad restrictions, raising the cost of correspondent relationships. For crypto and RWA desks, the practical read is that sanctioned-adjacent banking and exchange networks remain the choke point, not tokens themselves. Whether the wind-down approach becomes a template for future designations is the open question.
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