The U.S. Department of State has announced a sweeping new round of sanctions targeting entities involved in the sale and transport of Iranian petroleum and petrochemical products. The action, taken under Executive Order (E.O.) 13846, is part of ongoing efforts to cut off revenue streams that the Iranian regime uses to support its nuclear ambitions, ballistic missile programs, and ties to terrorist organizations.
Iran has long relied on a network of international shipping facilitators to circumvent sanctions and move petroleum products to buyers in Asia. The latest sanctions designate eight entities engaged in these operations, as well as eight vessels linked to them. These designations come as part of the U.S. government’s broader campaign to limit Iran’s ability to fund destabilizing activities.
Among the sanctioned entities is BSM Marine LLP, an India-based company that manages the vessel YATEEKA. Similarly, Kangan Petro Refinery Company, an Iran-based firm, and Cosmos Lines Inc, an India-based transport company, are also facing restrictions for their involvement in the sale and movement of Iranian petroleum.
The U.S. also sanctioned Alkonost Maritime DMCC, a United Arab Emirates-based entity managing the vessels MENG XIN and PHOENIX I. Other sanctioned companies include Austinship Management Private Limited (India), Oceanend Shipping Ltd (Seychelles), and IMS Ltd (Malaysia), all of which play roles in the transport of Iranian petroleum and petrochemical products. The sanctions extend to Octane Energy Group FZCO, a UAE-based petroleum distributor engaged in purchasing petroleum products from Iran.
As a result of these sanctions, all property and financial interests of the designated entities in the United States or under U.S. jurisdiction are blocked. U.S. individuals and businesses are prohibited from engaging in transactions with these entities unless specifically authorized by the Department of Treasury’s Office of Foreign Assets Control (OFAC). The restrictions also extend to any organizations owned 50 percent or more by a blocked entity.
The sanctions reinforce the U.S. government’s commitment to enforcing strict economic measures against Iran’s energy sector. The goal is not just to impose penalties but to encourage a shift in behavior by disrupting Iran’s ability to finance illicit activities. The U.S. government has emphasized that compliance with these sanctions is crucial for maintaining the integrity of the international financial system and preventing funds from reaching groups that threaten global security.
For full details on the sanctioned entities, vessels, and the broader impact of these actions, read the official fact sheet from the U.S. Department of State here.