US Sanctions Eight Tankers and Ten Companies Over Iran Oil Trade

The US Treasury Department has imposed sanctions on eight oil tankers and 10 companies for their involvement in Iran's oil trade. The entities are accused of helping to transport and sell Iranian crude oil, despite American sanctions.

The Treasury's Office of Foreign Assets Control (OFAC) added the firms and vessels to its Specially Designated Nationals list, citing Executive Order 13902, which targets Iran's petroleum and petrochemical sectors.

The statement claimed that the eight vessels and their linked companies have collectively moved millions of barrels of Iranian crude oil and petroleum products to China and the United Arab Emirates, in some cases dating back to 2022.

Among those designated were Hong Kong-registered shipping companies, including Billion Nexus Int'l, Confident Apex, Marinova Freight, Nevada Spirit, and Qi Hang Ship Management.