US Expands Iran Energy Sanctions: Shipping & Companies Targeted

The United States has significantly expanded its Iran energy sanctions, intensifying pressure on Tehran’s vital oil trade. This coordinated effort by the State Department and Treasury targets a wide array of companies and vessels enabling Iranian crude and petroleum product shipments globally. These new measures curb Iran’s illicit financial activities and support for proxy groups.

Targeting Illicit Shipping Networks

The latest sanctions extend beyond traditional Iranian operations, specifically targeting front companies and international enablers in the energy trade. Over 170 vessels responsible for shipping Iranian crude oil and other petroleum products have been sanctioned, demonstrating a broad reach. This includes sophisticated ship-to-ship transfers designed to obscure cargo origins.

Broadening Enforcement and Financial Pressure

The Treasury’s Office of Foreign Assets Control (OFAC) is actively dismantling networks that bankroll Iranian armed forces through crude oil sales. These sales are increasingly critical for Iran’s annual budget and military financing. Additionally, the US expanded actions against Mahan Air, an Iranian airline alleged to arm and supply proxy groups, linking energy trade to security concerns.

Key Vessels and Products Identified

OFAC explicitly listed six additional vessels, registered in various countries, facilitating crude oil delivery or illicit ship-to-ship transfers. These tankers transport crude and refined petroleum products, including liquefied petroleum gas (LPG). The Palau-registered Pioneer Sam, for instance, is alleged to have made over 30 such shipments in two years, underscoring the scale of these operations.