The Office of Foreign Assets Control issued a new general license last week to authorize certain oil-related activities and transactions in Venezuela as the Trump administration looks to incentivize American oil companies to reenter the country (see 2601280059).
Lukoil, the major Russian energy company sanctioned by the U.S. last year (see 2510220050), said it has agreed to sell its international business to Carlyle, a Washington, D.C.-based private equity firm. The deal is subject to approval by the Office of Foreign Assets Control, Lukoil said. The company said the agreement doesn't include its assets in Kazakhstan, and it's continuing negotiations with other potential buyers.
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The U.S. is preparing to issue sanctions licenses for companies to seek business opportunities in Venezuela, including in the country's oil sector, Secretary of State Marco Rubio told lawmakers this week.
David Horn, former acting chief counsel for the Office of Foreign Assets Control, has rejoined WilmerHale as a partner in its international trade, investment and market access group, the firm announced this week. Horn joined OFAC in 2023 as an attorney-adviser and became acting chief counsel in August 2025.
The Office of Foreign Assets Control last week sanctioned nine Iranian shadow fleet vessels and their owners or management firms after it said they collectively transported hundreds of millions of dollars’ worth of Iranian oil and petroleum products to foreign markets. OFAC also issued a general license to authorize certain safety- and environmental-related transactions with the ships.
The Office of Foreign Assets Control this week sanctioned five Costa Ricans and five Costa Rica-based entities after accusing them of narcotics trafficking and money laundering, including through the shipment of cocaine through Colombia to the U.S. and Europe.
The Office of Foreign Assets Control on Jan. 21 released its quarterly report on certain licensing activities for Iran, covering July-September 2025. The reports provide licensing statistics for exports of agricultural goods, medicine and medical devices as required by the Trade Sanctions Reform and Export Enhancement Act of 2000.
The Office of Foreign Assets Control removed sanctions this week on a ship owner and its vessel two months after accusing both of moving sanctioned Iranian oil.
The Office of Foreign Assets Control this week sanctioned seven organizations that it accused of purporting to provide medical care to Palestinians or support Palestinians abroad but that actually have ties to the terror group Hamas. OFAC also designated a senior official with one of the organizations.