The U.S. Department of the Treasury and Department of State have announced a new round of sanctions targeting activities linked to Cuba, Iran, transnational criminal networks and Venezuela.
The latest actions include restrictions on shipping operations, aviation support, weapons procurement and financial networks. They also address individuals and companies accused of helping sanctioned entities evade U.S. restrictions.
The updates reflect the federal government’s continued use of economic sanctions to disrupt activities it considers threats to U.S. national security and foreign policy interests.
U.S. expands sanctions targeting Cuba
The State Department announced new measures against entities and individuals connected to Cuba’s foreign military support and revenue networks.
The action designates eight entities and two individuals. It also identifies five vessels as blocked property because of their alleged connections to shipping networks that support Cuban state entities and military supply chains.
In a related move, the Treasury Department’s Office of Foreign Assets Control (OFAC) issued a determination under Executive Order 14404. Effective Nov. 5, the determination allows sanctions to be imposed on foreign individuals and companies operating in specific Cuban economic sectors.
Those sectors include electronics, manufacturing, marine activities and technology.
The measures increase pressure on businesses and individuals accused of supporting activities that benefit the Cuban government and its affiliated networks.
Treasury targets Iran’s maritime and aviation networks
The Treasury Department also announced sanctions targeting individuals and companies accused of supporting Iran’s efforts to evade restrictions on its maritime and aviation activities.
Under Operation Economic Outcast, OFAC targeted 13 individuals and companies connected to fraudulent vessel registrations and maritime certifications. These networks allegedly helped vessels linked to Iran’s shadow fleet continue operating.
The department also sanctioned a Türkiye-based company accused of providing support to Iranian airlines already subject to U.S. sanctions.
In addition, OFAC issued an alert warning businesses and industry participants about vessels using fraudulent flags and registration documents.
Separately, the State Department designated two individuals and one entity connected to procurement efforts involving man-portable air-defense systems.
Together, the measures target several parts of Iran’s international support networks, including petroleum shipping, aviation services and weapons procurement.
U.S. targets international criminal networks
Another set of sanctions focuses on transnational organized crime.
OFAC designated four individuals and 41 entities accused of supporting the Prince Group transnational criminal organization. The action targets corporate and financial networks allegedly connected to cyber scams, money laundering and sanctions evasion.
The Treasury Department also sanctioned a Malaysian individual accused of managing scammers operating in Africa and targeting victims in the United States.
These actions aim to disrupt the financial and business structures that allow criminal organizations to move money, coordinate operations and continue targeting victims across national borders.
Treasury updates Venezuela-related authorization
The latest update also includes a change involving Venezuela and its state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA).
OFAC issued General License 5AA, which authorizes certain transactions, financing and other dealings involving the PDVSA 2020 8.5% bond beginning Dec. 18, 2026.
The new authorization replaces General License 5Z. OFAC also amended Frequently Asked Question 595 to reflect the updated guidance.
The change provides specific authorization for covered transactions after the stated effective date. However, it does not represent a general removal of U.S. sanctions on Venezuela or PDVSA.
What the latest sanctions updates mean
The Nov. 9 roundup highlights the different ways the U.S. government uses sanctions to address international financial activity and security concerns.
The actions cover several areas, from shipping and aviation to cybercrime and financial transactions. They also affect individuals, companies, vessels and organizations connected to the targeted networks.
For banks, businesses and international service providers, the announcements reinforce the importance of sanctions screening and compliance checks. Companies involved in shipping, financial services, manufacturing and aviation may need to review the latest designations and restrictions before conducting relevant transactions.
The Treasury Department and State Department publish sanctions announcements and related guidance to help the public understand the scope of these actions. Businesses should consult the official notices and OFAC guidance when assessing their compliance responsibilities.
Source: American Bankers Association
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