Treasury Publishes General License for Wind Down of Transactions With Certain Blocked Entities

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On January 20, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a General License related to the Transnational Criminal Organizations Sanctions Regulations. The license is titled General License No. 1 (GL 1).

General License No. 1 was issued on October 14, 2025. The license allows certain transactions that are normally blocked under the regulations. These transactions must be for the purpose of winding down activities with specific blocked entities.

The license is valid until 12:01 a.m. Eastern Standard Time on November 13, 2025.

The blocked entities covered by GL 1 are:

  • Prince Holding Group
  • Prince Bank Plc.
  • Prince Huan Yu Real Estate Cambodia Group Co., Ltd
  • Any company in which one or more of these groups owns 50 percent or more, either directly or indirectly.

The license allows normal business steps needed to end dealings with these entities. However, any payments to the blocked entities must go into a blocked account, as required by the rules.

GL 1 does not permit transactions with any other people or companies blocked under the Transnational Criminal Organizations Sanctions Regulations. It only applies to the names listed above.

The license was first made available on the OFAC website on October 14, 2025. The public text version is now included in the official Federal Register.

For more information, visit OFAC’s site at https://ofac.treasury.gov/ or contact the OFAC Assistant Director for Regulatory Affairs at 202-622-4855.

Bradley T. Smith, Director of OFAC, signed the license on October 14, 2025. The license was filed in the Federal Register as document number 2026-00948.


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