US expands sanctions targeting Iran maritime networks
Shafaq News- Washington
The US Treasury Department on Friday imposed a new round of sanctions on Iran linked to maritime activity in the Strait of Hormuz, targeting 30 individuals and entities, the Office of Foreign Assets Control (OFAC) stated.
The sanctions focus on those facilitating Iranian oil exports through illicit methods, as well as companies operating within the “shadow fleet,” used to bypass international restrictions. Measures include enhanced vessel tracking, tighter restrictions on intermediary firms, and coordination with international partners to disrupt networks engaged in sanctions evasion, particularly in the energy and maritime transport sectors.
OFAC added that Iran’s shadow financial networks process tens of billions of dollars in transactions annually, relying on exchange houses, agents, and offshore front companies to move funds globally.
The Treasury also warned shipping companies that paying fees to Iran for passage through the Strait of Hormuz could trigger sanctions.
Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated three Iranian foreign currency exchange houses and their associated front companies. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each…
— Treasury Department (@USTreasury) May 1, 2026
These actions follow remarks last week by US Treasury Secretary Scott Bessent, who warned of penalties targeting vessels and individuals facilitating Iranian oil shipments. The Treasury also sanctioned a Chinese refinery and around 40 entities linked to importing Iranian oil.
