"The Office of Foreign Assets Control (OFAC) of the U.S. Treasury and the State Department are imposing sanctions on over 30 individuals and vessels across multiple jurisdictions for their role in facilitating the sale and transportation of Iranian oil products," the statement reads.
The authors emphasize that the sanctioned vessels "are responsible for transporting tens of millions of barrels of crude oil worth hundreds of millions of dollars."
"Among those sanctioned are oil brokers in the UAE and Hong Kong, operators and managers of tankers in India and China, the head of the National Iranian Oil Company, and the Iranian Oil Terminals Company, whose activities help finance destabilizing operations in Iran," the Treasury noted.
Treasury Secretary Scott Bessent stated that the U.S. will utilize all available tools to impact Iran's oil supply chains, and "anyone dealing with Iranian oil exposes themselves to significant sanction risks."
The new U.S. sanctions affect, in particular, the vessels Urgane I, Lydia II, Ayden, and Fiona, which sail under the flag of Panama but, according to U.S. data, are managed by shell companies based in the Seychelles.
The U.S. State Department has added eight organizations based in Iran, India, Malaysia, the Seychelles, and the UAE to the sanctions list for their involvement in the sale, purchase, and transportation of Iranian oil, along with the vessels associated with these organizations: Yateeka (under the Gabon flag), Meng Xin and Phoenix I (under the Cook Islands flags), Amak (under the Eswatini flag), Violet 1, Peterpaul, and Chamtang (all under the Panama flag), and Asterix (under the Gambia flag).
"Today's actions represent the first step in implementing President [Donald] Trump's campaign of maximum pressure on the Iranian regime. They undermine Iran's efforts to generate revenue from oil sales to finance terrorist activities. We will continue to disrupt such unlawful funding streams for Iran's malign activities," commented the U.S. State Department.