The US Treasury has sanctioned one Indian national, 16 companies and eight tankers over an alleged shipping and trading network tied to Iranian oil sales, according to the US Treasury.
The Office of Foreign Assets Control action, announced on 28 May 2026, targets companies and commercial intermediaries in Hong Kong, the United Arab Emirates, India, China, Singapore, Qatar, Liberia and the Marshall Islands.
OFAC said the network supported Sepehr Energy Jahan Nama Pars Company, the oil sales arm of Iran’s Armed Forces General Staff, by helping charter vessels, arrange shipments and facilitate trade in Iranian crude oil and petroleum products.
The sanctioned individual is Swaroop Jayantilal Bagrecha, an Indian national based in Chennai, Tamil Nadu.
Companies added to the Specially Designated Nationals list include Hong Kong-based Agility Shipping Limited, Damai Technology Development Limited, Growth Trading Co., Limited, HK Yuanhang Shipping Limited, Mehdiyev Trading Co., Limited, Tida Co., Limited and Worth Seen Energy Limited; India’s Rishabh Triexim LLP; Dubai-based Symphony Shipping and Maritime Management Inc; UAE-based Vanguard Marine Ventures Inc; and Marshall Islands-registered Crystal Blue Sky Inc and Trastok Shipping Co., Ltd.
OFAC also listed eight vessels: the Marshall Islands-flagged chemical/oil tanker Flora, the San Marino-flagged LPG tanker Gas Nora, the Comoros-flagged crude oil tanker Hauncayo, the Panama-flagged crude oil tankers Ill Gap and Thea, the Palau-flagged chemical/products tanker Maymei, the Cameroon-flagged crude oil tanker Rcelebra and the Panama-flagged chemical/products tanker Yongan Ocean.
The Treasury said Sepehr Energy Jahan used UAE-based Luan Bird Shipping Service LLC to ship Iranian oil to China and pay commissions to Hong Kong-based Growth Trading Co., Limited for crude oil shipments aboard Boreas, now Uri, Siri and Oxis.
It also said Hong Kong-based Damai Technology Development Limited served as charterer of multiple vessels carrying Iranian oil for the Iranian armed forces from mid-2025, including the Islamic Revolutionary Guard Corps.
The sanctions freeze any US property or interests in property of the designated parties and generally bar US persons from dealing with them. OFAC also warned that foreign financial institutions engaging in certain transactions involving the newly designated parties may face secondary sanctions.