The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated eight shipping and vessel-management companies and identified nine associated vessels as blocked property in a move aimed at Iran’s “shadow fleet” involved in transporting Iranian oil and petroleum products to foreign markets. The action was taken under Executive Order 13902, targeting Iran’s petroleum and petrochemical sectors, and was framed as part of the U.S. sanctions campaign under National Security Presidential Memorandum 2. The designations cover Horizon Harvest Shipping LLC, Aayat Ship Management Private Limited, Black Stone Oil and Gas, Galeran Service Corp, Longevity Shipping Limited, Odyssey Marine Inc., Benoil Shipping Inc., and Trade Bridge Global Inc., alongside vessels including SEA BIRD, AVON, AL DIAB II, CESARIA, LONGEVITY 7, EASTERN HERO, AQUA SPIRIT, CHIRON 5, and KEEL, linked to Iranian crude and refined product shipments (including LPG, condensate, methanol, fuel oil, and naphtha) in 2025 continuing into 2026. As a result, property and interests in property of the designated or blocked persons within U.S. jurisdiction or control of U.S. persons are blocked and must be reported to OFAC; the 50 percent ownership rule applies; and U.S. persons are generally prohibited from transactions involving blocked property absent authorization or exemption, with potential civil or criminal penalties for violations.
U.S. Department of the Treasury 2026-01-23
U.S. Department of the Treasury’s Office of Foreign Assets Control sanctions nine shadow fleet vessels and eight firms supporting Iranian oil exports
The U.S. Treasury’s Office of Foreign Assets Control designated eight shipping companies and nine vessels as blocked property under Executive Order 13902, targeting Iran's petroleum and petrochemical sectors. This action blocks property within U.S. jurisdiction and prohibits U.S. persons from transactions with these entities without authorization, with penalties for violations.