US Sanctions Hong Kong Shipping Firms Over Iran Oil Exports

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned ten Hong Kong shipping companies and eight commercial crude oil tankers for their involvement in Iranian oil exports.

The OFAC designated these entities on July 29, 2026, under Executive Order 13902, which targets illicit maritime trade routes that funnel Iranian petroleum products to international markets.

The sanctioned Hong Kong-registered firms include Billion Nexus International, Confident Apex Limited, Marinova Freight Limited, Nevada Spirit Company Limited, and Qi Hang Ship Management Limited. Marshall Islands-registered entities Branch Saying International Trading, Ocean Tranquility, and Vast Mighty Limited were also named in the sanctions package.

The US Treasury officials emphasized that these vessels conducted repeated ship-to-ship transfers in international waters to conceal the origin of Iranian petroleum.