Today, the U.S. Department of the Treasury increased its pressure on Iran by sanctioning more than 30 entities, individuals, and ships. This coordinated effort aims to disrupt Iran's shadow fleet operations and its ability to obtain weapons.
The Office of Foreign Assets Control (OFAC) has listed 12 ships and their owners or operators, which have collectively moved hundreds of millions of dollars' worth of Iranian oil and petrochemical products across the globe. The sanctioned ships include tankers registered in Panama, vessels from Barbados, and Iranian-flagged ships. They have delivered various products, from liquefied petroleum gas to high-sulfur fuel oil, to places like Bangladesh, Pakistan, and East Asia.
“Iran uses financial systems to sell illegal oil, launder money, acquire parts for its nuclear and conventional weapons, and support its terrorist allies,” stated Secretary of the Treasury Scott Bessent. “Under President Trump’s strong leadership, Treasury will keep applying maximum pressure on Iran to limit the regime’s weapons capabilities and its support for terrorism, which it prioritizes over the well-being of the Iranian people.”
The shadow fleet has operated without consequence for years, allowing Tehran to bypass international sanctions and generate revenue that fuels ballistic missile development, the spread of unmanned aerial vehicles, and support for regional terrorist groups, rather than meeting the fundamental economic needs of Iranian citizens.
Notable ships targeted include the OCEAN KOI, which has shipped millions of barrels of Iranian oil since May 2025 and has been part of the shadow fleet since at least 2020, and the FELICITA, which has transported millions of barrels of Iranian fuel oil and naphtha since 2023. The ALAA has been very active as well, carrying Iranian LPG shipments to various locations, including Turkey, since 2022.
The sanctions also cover individuals and entities in Iran, Turkey, and the United Arab Emirates that have helped procure key chemicals and machinery for Iran's Islamic Revolutionary Guard Corps and Ministry of Defense. These networks have allowed Iran to rebuild its ballistic missile production and spread UAVs to other countries, including Russia and Venezuela.
The sanctions come with serious consequences. All property and interests belonging to the sanctioned individuals within U.S. jurisdiction are blocked, and entities that are at least 50% owned by blocked persons are automatically sanctioned too. U.S. persons are generally prohibited from engaging in transactions with the blocked parties, and violations may lead to civil or criminal penalties.
This recent action is part of a larger strategy outlined in National Security Presidential Memorandum 2, which has already led to over 875 sanctions in 2025 alone, targeting Iran's shadow banking, money laundering, weapons proliferation, and sanctions evasion efforts.
As enforcement of maritime regulations becomes stricter worldwide, evidenced by recent U.S. boardings of sanctioned tankers in the Indian Ocean and further sanctions against Russian shadow fleets, the Treasury's actions show that illegal oil transport remains a top priority for Washington.