The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting nine vessels and their associated management companies for transporting Iranian oil and petroleum products to foreign markets. The action comes amid ongoing reports of the Iranian government cracking down on peaceful protests and restricting internet access within the country.
According to the Treasury, these vessels have collectively moved hundreds of millions of dollars’ worth of Iranian oil, generating revenue that is used by the regime to fund regional proxy groups, weapons programs, and security services rather than supporting economic needs demanded by citizens.
Secretary of the Treasury Scott Bessent stated, “The Iranian regime is engaged in a ritual of economic self-immolation—a process that has been accelerated by President Trump’s maximum pressure campaign. Tehran’s decision to support terrorists over its own people has caused Iran’s currency and living conditions to be in free fall. Today’s sanctions target a critical component of how Iran generates the funds used to repress its own people. As previously outlined, Treasury will continue to track the tens of millions of dollars that the regime has stolen and is desperately attempting to wire to banks outside of Iran.”
The measures are implemented under Executive Order 13902, which focuses on Iran’s petroleum sector as part of a broader strategy to apply maximum economic pressure on Tehran.
The sanctioned vessels include:
– SEA BIRD (Palau-flagged), managed by UAE-based Horizon Harvest Shipping LLC
– AVON (Comoros-flagged), operated by India-based Aayat Ship Management Private Limited
– AL DIAB II (Palau-flagged), managed by Oman-based Black Stone Oil and Gas
– CESARIA (Palau-flagged), owned by Seychelles-based Galeran Service Corp
– LONGEVITY 7 (unknown flag), managed by Marshall Islands-based Longevity Shipping Limited
– EASTERN HERO (Palau-flagged), owned by Marshall Islands-based Odyssey Marine Inc.
– AQUA SPIRIT (Panama-flagged), owned by Liberia-based Benoil Shipping Inc.
– CHIRON 5 and KEEL (Comoros-flagged), both managed by Marshall Islands-based Trade Bridge Global Inc.
These companies are being designated for operating in Iran’s petroleum sector: Horizon Harvest Shipping LLC; Aayat Ship Management Private Limited; Black Stone Oil and Gas; Galeran Service Corp; Longevity Shipping Limited; Odyssey Marine Inc.; Benoil Shipping Inc.; and Trade Bridge Global Inc.
As a result, all property or interests in property belonging to these entities or vessels within U.S. jurisdiction are now blocked. U.S. persons are generally prohibited from engaging in transactions involving these assets unless authorized or exempted by OFAC regulations. Entities owned at least 50 percent by one or more blocked persons are also subject to blocking measures.
Violations may lead to civil or criminal penalties for both U.S. and foreign individuals or organizations involved in prohibited transactions with designated parties. OFAC notes that financial institutions could face sanctions risk if they engage with blocked entities or individuals.
OFAC emphasizes that while it maintains robust enforcement capabilities—including adding individuals or entities to its Specially Designated Nationals List—it also allows for removal from such lists when consistent with legal standards, aiming ultimately for behavioral change rather than punishment.
Further details about those designated can be found on OFAC’s website.
