The Trump administration has fully reinstated its “maximum pressure” strategy on Iran's oil trade, ending a brief break from sanctions while launching a broad crackdown on the shipping networks that facilitate the movem...
The Trump administration has fully reinstated its “maximum pressure” strategy on Iran's oil trade, ending a brief break from sanctions while launching a broad crackdown on the shipping networks that facilitate the movement of Iranian crude oil.
On Wednesday, the U.S. Treasury imposed sanctions on over two dozen individuals, companies, and ships connected to Iranian oil tycoon Mohammad Hossein Shamkhani. They also announced that temporary waivers allowing Iranian oil sales at sea will expire this week and will not be renewed.
This series of actions signals a clear shift from stabilizing the market to enforcing sanctions.
The Waiver Is Over
On March 20, the Office of Foreign Assets Control (OFAC) issued a rare 30-day general license allowing the sale of Iranian oil that was already on ships, releasing about 140 million barrels that were stranded at sea to help lower rising prices.
That period of relief is now ending. Treasury Secretary Scott Bessent confirmed that the administration will not extend the waiver, effectively concluding the temporary policy that allowed some Iranian and Russian oil sales despite sanctions.
Treasury Targets the Shipping Backbone
As the waiver comes to a close, the Treasury is turning its focus on the tankers and businesses that drive Iran's oil trade.
The recent sanctions specifically target the network of Mohammad Hossein Shamkhani, identified by U.S. officials as a key player in a global system that channels Iranian and Russian oil through a fleet of tankers and front companies.
The sanctions affect a variety of crude, product, and LPG carriers operating under different flags and ownership structures to hide their control.
Mohammad Hossein Shamkhani is the son of Ali Shamkhani, a former senior advisor to Iran’s previous Supreme Leader Ali Khamenei, who was killed in a U.S.-Israeli strike at the start of the conflict. Reports indicate that the Shamkhani family controls a fleet of nearly 40 tankers operating across various jurisdictions.
One notable vessel is the Mozambique-flagged LPG carrier AURA (IMO 9274563), which the Treasury claims has transported over three million barrels of Iranian LPG since early 2025. The vessel is owned and operated by Marshall Islands-based Aura Lines Inc., which has also been sanctioned.
A group of tankers managed by India-based Fleet Tanqo Private Limited has also been sanctioned, including the Panama-flagged HORAE (IMO 9413004), VERSA (IMO 9379301), ANAYA (IMO 9326885), and DAPHNE V (IMO 9321677), along with the Cameroon-flagged SILVAR (IMO 9291262). The Treasury states these vessels collectively carried over 20 shipments of Russian petroleum products in 2025, highlighting the interconnected trade flows between Iran and Russia.
Additional vessels linked to Marshall Islands-based Hapuka Marine Ltd., Nardie International S.A., and Anika Lines Inc. were also named, including the Cameroon-flagged CAUVERI (IMO 9282508), Panama-flagged BELLARIS (IMO 9332614), and ANIKA (IMO 9417464). According to the Treasury, each of these ships has transported millions of barrels of Russian oil or petroleum products for the Shamkhani network.
These designations illustrate the vast range and complexity of the fleet employed to transport sanctioned oil while avoiding detection.
A Network Built for Evasion
The Treasury reports that the Shamkhani network operates through a series of front companies across the UAE, India, and the Marshall Islands, managing ship operations, logistics, and financial transactions.
These businesses enable the network to keep a steady flow of vessels, crews, and cargoes while concealing ownership and shielding their operations from scrutiny.
This structure showcases a larger trend in the shadow fleet model, where ships are just one component of a system designed to withstand sanctions pressure.
Blockade Brings Enforcement to Sea
While the Treasury tightens financial restrictions, the Pentagon is applying pressure at sea.
U.S. forces claim their blockade of Iranian ports has already halted Iran’s sea trade, with at least nine vessels turned back and no successful crossings reported during the initial enforcement phase.
This blockade targets ships entering or leaving Iranian ports, and there are warnings that any vessel attempting to breach it could be boarded, diverted, or seized.
Even outside of Iranian ports, the effects are being felt. Traffic through the Strait of Hormuz remains technically open for non-Iranian trade, but movements have significantly slowed as shipowners reassess the risks in a region now defined by both sanctions and active enforcement.
With looming secondary sanctions, vessels being designated, and a blockade in place, the opportunities for operating in or around Iranian oil flows are rapidly diminishing.