US Sanctions 8 Tankers, 10 Companies for Alleged Role in Iran Oil Trade

The US Treasury Department has imposed sanctions on eight oil tankers and 10 companies accused of helping Iran transport and sell crude oil in violation of American sanctions.

The affected entities include Hong Kong-registered shipping companies, such as Billion Nexus Int'l, Confident Apex, Marinova Freight, Nevada Spirit, and Qi Hang Ship Management.

Two Iran-based firms, Hormuzsafe Marine Services Authority and Persian Gulf Marine Insurance Company, were also designated. They allegedly operate in the financial and insurance sector and are subject to secondary sanctions.