US Targets Iran’s Oil Trade With Sanctions on 27 Companies, 22 Vessels

The United States has imposed fresh Iran-related sanctions on 27 companies, six individuals and 22 vessels, targeting international shipping and trading networks that Washington accuses of sustaining Tehran’s oil exports and evading restrictions.

The measures form part of Operation Economic Outcast, the Trump administration’s campaign to disrupt Iran’s petroleum revenues and financial networks.

“Treasury is starving the tyrannical regime in Tehran of the money it uses to wage war in the region, and we will continue exposing those who enable the regime’s oil sales,” Treasury Secretary Scott Bessent said.

“No enabler of Iranian sanctions evasion is safe from the full force of Treasury’s authorities.”

IRAN’S ‘SHADOW FLEET’ IN THE CROSSHAIRS

The designations cover shipping operators, maritime management companies and trading firms across countries including Türkiye, China, the United Arab Emirates, the United Kingdom and the Marshall Islands.

According to the Treasury Department, the targeted vessels belong to Iran’s “shadow fleet”, a network of ageing tankers used to transport petroleum and related products to overseas markets. They include crude oil, petroleum products, liquefied petroleum gas, chemical and bitumen tankers sailing under different national flags.

The department alleged that international ownership and operating structures helped conceal the network’s activities. It said the vessels had transported millions of barrels of Iranian crude, petroleum and petrochemical products to South and East Asia.

Treasury described the measures as a major blow to Iran’s remaining maritime sanctions-evasion network. That assessment represents Washington’s claim about the action’s impact.

The State Department separately announced sanctions on 10 entities, six individuals and five vessels involved in trading Iranian-origin petroleum or petrochemical products.

“The United States is using every diplomatic and economic tool to sever Iran’s economic lifelines,” State Department spokesman Tommy Pigott said.

WHICH VESSELS WERE NAMED?

Among those targeted was the Comoros-flagged PARITOSH, which Treasury said transported more than 100,000 barrels of Iranian bitumen or asphalt in 2026. The Panama-flagged BITU allegedly carried more than 170,000 barrels this year.

Treasury also identified the Panama-flagged STARWAY, alleging it had transported more than three million barrels of Iranian naphtha since 2025, and the Bahamas-flagged GAS LUCKY, which it said carried more than 500,000 barrels of Iranian ethylene over the same period.

Two vessels, HAKUNA MATATA and PINOCCHIO, were removed from the sanctions list after Treasury determined that they had left Iran’s shadow fleet and been sold to non-sanctioned or US-aligned operators.

WHAT THE RESTRICTIONS MEAN

The sanctions require US-based property and assets held by US persons belonging to designated parties to be blocked and reported to the Office of Foreign Assets Control. The restrictions also cover entities owned, directly or indirectly, 50% or more by one or more blocked persons.

Treasury warned that violations could attract civil or criminal penalties, while certain transactions could expose foreign financial institutions to secondary sanctions.

Operation Economic Outcast, announced by Bessent on August 24, seeks to isolate Iran by targeting its oil sales, financial networks and sanctions-evasion channels.

With inputs from ANI