Wind-down deadline for revoked Iran oil General License X
OFAC issued General License X1 on July 7, 2026, revoking General License X (issued June 22, 2026), which had temporarily authorized production, transport and sale of Iranian-origin crude oil, petrochemical and petroleum products. Under GL X1, only wind-down of previously authorized transactions is permitted through 12:01 a.m. EDT on July 17, 2026, after which no new transactions under the prior license are authorized.
Recorded figures
- Status
- Wind-down deadline reached; General License X fully revoked, no new transactions authorized
As of Jul 17, 2026
Sources
OFAC - Issuance of Amended Iran-related General License · U.S. Department of the Treasury
Cited Jul 9, 2026
OFAC - Issuance of Iran-related General License X · U.S. Department of the Treasury
General License X issued June 22, 2026, later revoked by General License X1
Cited Jul 9, 2026
Related events
Expiry of EU restrictive measures on Iran pending renewal decision
The European Union's restrictive measures on Iran, tied to bans on drone and missile-component exports, are extended until July 27, 2026. The Council of the EU's decision on whether to renew these measures beyond that date will be announced around this deadline.
End of initial 60-day US-Iran talks window under June 2026 memorandum
Under the US-Iran memorandum signed June 17, 2026, the two sides set an initial 60-day period for talks on the Strait of Hormuz, Iran's nuclear and missile programs, and sanctions, ending around August 16, 2026. Iranian officials say they intend to charge ships a service fee for Hormuz passage once this toll-free period ends, a position the US disputes.
Kazakhstan Kurultai (legislature) election
Kazakhstan holds elections for its new unicameral Kurultai (145 seats, proportional party-list system), following a constitutional reform that replaced the former bicameral parliament. Kazakhstan is a major non-OPEC oil producer and a participant in the OPEC+ production agreement.
SCO Council of Heads of State summit in Bishkek
Kyrgyzstan, holding the 2026 rotating chairmanship of the Shanghai Cooperation Organisation, will host the SCO Council of Heads of State summit in Bishkek, expected in September 2026. An exact date has not yet been published. Iran, an SCO member state, is expected to participate.
IAEA Board of Governors meeting - September 2026
The International Atomic Energy Agency's Board of Governors holds its regular session from September 7 to 11, 2026, in Vienna. Iran's nuclear file is typically a standing agenda item at these sessions.