Washington sanctions more Iran-linked vessels
The US government has sanctioned 19 Iran-linked vessels and several entities for facilitating sanctioned Iranian petroleum and petrochemicals shipments to foreign customers.
IMAGE: Flags of the US and Iran. Getty Images
The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has designated Iranian shadow fleet vessels, as well as an Iranian foreign currency exchange house and associated front companies, for their roles in enabling transactions that “that have generated hundreds of millions of dollars in revenue.”
The latest measure forms part of “Economic Fury” – Washington’s campaign to cut Iran’s oil exports to zero, the treasury department said.
OFAC has targeted the Barbados-flagged liquified petroleum gas (LPG) tanker Great Sail for transporting “hundreds of thousands of barrels of Iranian petrochemicals since 2025.” The vessel is owned by Hong Kong-based Great Sail Shipping, OFAC said.
It also targets two more vessels for transporting Iranian naphtha since last year – the Palau-flagged products tanker Ocean Wave and the Panama-flagged chemical tanker Swift Falcon. The Ocean Wave is owned by Liberia-based Ow Maritime, while the Swift Falcon is owned by Hong Kong-based Arden Angel Shipping.
The US agency has sanctioned 16 more vessels for conducting similar transactions. Their owners are based in Hong Kong, the Marshall Islands, the UK, St. Kitts and Nevis, Liberia, the British Virgin Islands and Panama, it said.
“Today’s actions further reduce the revenue available to the Iranian regime to develop weapons, support terrorist proxies, and siphon funds outside Iran for personal enrichment,” OFAC argued.
By assembling a shadow fleet of poorly maintained vessels to circumvent sanctions meant to restrict the movement of Iranian crude oil, Tehran has generated revenue that has supported regional armed groups, including the Yemen-based Houthis and the Lebanon-based Hezbollah, OFAC claimed earlier.
By Aparupa Mazumder
Please get in touch with comments or additional info to news@engine.online
