Bradley T. Smith

Bradley T. Smith has directed the US Treasury's Office of Foreign Assets Control since September 2023, having previously served as the bureau's Deputy Director and Chief Counsel. OFAC administers and enforces US sanctions across Russia, Iran, Cuba, global terrorism and weapons proliferation, and Smith is the final signatory on the general licences that carve narrow legal exemptions inside those regimes.

On 7 July 2026, Smith signed General License X1, revoking the earlier waiver that had allowed dollar-clearing purchases of Iranian crude and permitting only wind-down transactions. GL X1 itself lapsed at 12:01am EDT on 17 July with no successor issued, closing the window entirely rather than narrowing it further. On the Russia side, Smith signed General License 134C on 18 May, the third successive bridge licence reinstating vessel-services cover for cargoes loaded before 17 April, with Cuba, Iran, DPRK and occupied Ukraine carved out.

Because OFAC's programmes span multiple US foreign-policy fronts at once, Smith's decisions on one sanctions regime are frequently read for signals about administration intent on another; a licence he signs or lets lapse can determine whether traders, insurers and banks may legally handle billions of dollars in restricted commerce.