US issues general license for wind-down activities in Hormuz as new Iran sanctions imposed

This frame grab taken from AFPTV video footage on July 12, 2026 shows a cargo ship anchoring near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan.

(photo credit: AFPTV / AFP via Getty Images)

The US Treasury Department announced that it has issued a "general license" authorizing limited activities in the Strait of Hormuz, according to a department press release on Tuesday.

The Treasury's Office of Foreign Assets Control (OFAC) simultaneously issued new sanctions against individuals, ships, and groups involved with Iran, the statement read.

According to the license, wind-down operations are permitted until September 12, and any payments made under the license must be made via specific protocols within the US.