The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on an international network accused of facilitating the shipment of Iranian crude oil to China. The network, which allegedly operates under Iran’s Armed Forces General Staff (AFGS) and its front company Sepehr Energy Jahan Nama Pars, involves entities and individuals across several countries including China, India, and the United Arab Emirates.
According to the Treasury Department, Iran uses oil sales to fund regional activities and support groups such as Hamas, the Houthis, and Hizballah. “The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program,” said Secretary of the Treasury Scott Bessent.
The action is based on Executive Orders 13224 and 13902, aimed at countering terrorism and targeting key sectors of Iran’s economy. This aligns with a recent presidential directive to apply maximum economic pressure on Iran.
Sepehr Energy has been accused of using deceptive methods like falsifying maritime documents to disguise the origin of Iranian oil sold internationally. The Comoros-flagged tanker ANTHEA, now known as SIRI, is reported to be involved in these operations off Singapore’s coast.
OFAC also designated Marshal Ship Management Private Limited from India for providing crew members for vessels linked to Sepehr Energy. Ryan Xavier Aranha from India is named as a director for this company.
Further designations include Miletus Line Ltd., Gozoso Group Ltd., Ocean Dolphin Ship Management Ltd., and Umbra Navi for their roles in transporting Iranian oil. These companies are accused of materially assisting Sepehr Energy.
Additionally, OFAC identified vessels CH BILLION and STAR FOREST as blocked properties due to their involvement in transporting Iranian oil. Hong Kong-based Young Folks International Trading Co., Limited owns CH BILLION while Lucky Ocean Shipping Limited manages STAR FOREST.
As a result of these actions, all property related to these entities within U.S. jurisdiction is blocked. Violations could lead to civil or criminal penalties under U.S. sanctions laws.
