On July 7, 2026, the Office of Foreign Assets Control (OFAC) issued General License (GL) X1 which revokes a previously issued "authorization for the production, deliver and sale of crude oil, petrochemical products, and petroleum products" from Iran. 

GL X1 revokes and supersedes General License X, dated June 21, 2026. All transactions that are "ordinarily incident and necessary to the wind down of transactions previously authorized by General License X are authorized through July 17, 2026." 

General License X authorized transactions that are "ordinarily incident and necessary to the production, sale, delivery, or offloading of crude oil, petrochemical products, or petroleum products of Iranian origin". 

General License X1 is effective as of July 7, 2026. 

General License X1 can be found here: 
https://ofac.treasury.gov/media/936446/download?inline  

General License X can be found here:
https://ofac.treasury.gov/media/936206/download?inline 

More information on OFAC's Iran Sanctions program can be found here: 
https://ofac.treasury.gov/sanctions-programs-and-country-information/iran-sanctions