The US Treasury Department sanctioned eight oil tankers and 10 companies on Wednesday, the latest move in a campaign to disrupt Iran's petroleum exports. The designations were issued under Executive Order 13902, which targets Iran's petroleum and petrochemical sectors.
The eight tankers — Al Salmi, Breeze V, Crystal, Lily, Natsumi, Nireta, Well Sail, and Yehope — are flagged in Barbados, Vanuatu, the Marshall Islands, and Mozambique, with one vessel's flag unknown. Two Iran-based firms were also designated: Hormuzsafe Marine Services Authority and Persian Gulf Marine Insurance Company, described as backed by the Islamic Revolutionary Guard Corps (IRGC) and engaged in coercive insurance schemes.
Today’s designations support the US Navy’s enforcement of a blockade on Iranian ports and coastline.
Pigott said the campaign has sanctioned more than 100 vessels in 2026 as part of Iran's so-called "shadow fleet." Treasury Secretary Scott Bessent said "the regime is desperate for cash" and that "the United States will not allow Iran to hold global commerce hostage."
The eight vessels have collectively moved millions of barrels of Iranian crude oil and petroleum products to China and the United Arab Emirates, with some shipments dating to 2022. Six of the vessels were specifically accused of carrying Iranian crude to China, transporting millions of barrels during 2026.
Sanctioned in 2026 as part of Iran's shadow fleet campaign
The designations advance the "President's National Security Presidential Memorandum 2 (NSPM-2)," which calls for maximum economic pressure on Iran. Pigott said the Iranian entities run "coercive 'insurance' schemes that extort international shipping transiting the Strait of Hormuz."