In short
- US OFAC - Recent Actions published a Determination Pursuant to Executive Order 13902 and amended Iran-related FAQ 831 on 1 October 2026.
- OFAC updated SDN List entries for EVER SHINING LTD and FLUXUS MARINE INC, changing organization details and established dates to 2021.
What happened
OFAC published a Determination Pursuant to Executive Order 13902 targeting the automotive and rail sectors of the Iranian economy, and released an amended Iran-related FAQ 831. The agency also designated multiple individuals and entities, including those linked to Iran and transnational criminal organizations, on its SDN List as of 1 October 2026.
Several entities, such as A7 NETWORK, BONASOL GROUP CO., LIMITED, and IRAN KHODRO COMPANY, were added to the SDN List, with many subject to secondary sanctions. OFAC also updated existing SDN List entries for EVER SHINING LTD and FLUXUS MARINE INC, reflecting new organization details and established dates.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published a Determination Pursuant to Executive Order 13902 - Automotive and Rail Sectors of the Iranian Economy.
In numbers
- FAQ 831 Amended Iran-related Frequently Asked Question
- Executive Order 13902 Determination targeting Iranian automotive and rail sectors
Designated in this action
Organization, regulator US OFAC SDN - Iran —
What compliance teams should check
- Screen all transactions and relationships against the updated OFAC SDN List as of 1 October 2026, including new Iran-related and transnational criminal organizations.
- Review and apply guidance from amended Iran-related FAQ 831 to ensure compliance with OFAC's latest interpretations.
- Assess exposure to entities subject to secondary sanctions under Executive Order 13902, including IRAN KHODRO COMPANY, HEAVY EQUIPMENT PRODUCTION COMPANY, and ISLAMIC REPUBLIC OF IRAN RAILWAY COMPANY.
Why it matters
This OFAC action significantly expands the scope of Iran-related sanctions, targeting key sectors such as automotive and rail, and adding numerous entities and individuals to the SDN List. Compliance officers must promptly update screening processes and risk assessments to prevent prohibited transactions and avoid secondary sanctions. The amended FAQ 831 and updated SDN List entries provide new guidance and details, making it essential to review and implement these changes to maintain robust AML/CFT controls and ensure regulatory compliance.
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