US Targets Iran-Linked Oil Companies and Tankers with New Sanctions

The US Treasury's Office of Foreign Assets Control (OFAC) has imposed new sanctions on several companies linked to Iran or accused of supporting its oil sector. The measures target entities registered in Hong Kong, the Marshall Islands, and Iran, including Billion Nexus International, Confident Apex, Marinova Shipping, Chi Hang Ship Management, as well as Hormoz Safe Sea Services and the Persian Gulf Marine Insurance Company.

The Treasury also added several oil and chemical tankers to its sanctions list, including Al Salmy, Breeze, Crystal, Nerita, and Yehoub, along with other vessels flying the flags of Barbados, Vanuatu, Mozambique, and the Marshall Islands. These actions are part of ongoing US efforts to target networks accused of facilitating Iranian oil exports.