Last Updated: January 19, 2026
Iran
Type of sectoral sanctions
Oil
Measures
Application to Countries Reducing the Volume of their Oil Purchases from Iran: If the President makes a determination and reports to Congress that a country has significantly reduced its volume of crude oil purchases from Iran, the banking sanctions provided by the Act will not apply to any foreign financial institution over which that country has ...
Additional Sanctions
Program information
Authority
US
Program
Section 1245 of the National Defense Authorization Act for Fiscal Year 2012, P.L. 112-81, As Amended Through Public Law 115-91, Enacted December 12, 2017
Regime
OFAC country specific
Target State
Iran
Official Information
On December 31, 2011, the President signed into law the National Defense Authorization Act (NDAA). Section 1245 of the NDAA requires the President to block the property and interests in property subject to U.S. jurisdiction of all Iranian financial institutions, including the Central Bank of Iran (CBI). It also aims to reduce Iranian oil revenues a...
Additional Details
SDN
Program URL