Thursday, February 26, 2026 - The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Wednesday, announced sanctions against more than 30 individuals, entities and vessels accused of facilitating illicit Iranian petroleum sales and supporting Iran’s ballistic missile and advanced conventional weapons programmes.
According to the Treasury, the measures target vessels
linked to what officials describe as Iran’s “shadow fleet”, ships used to
transport Iranian petroleum and petrochemical products to foreign markets
despite existing sanctions. The action also focuses on networks allegedly
helping Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense
and Armed Forces Logistics obtain precursor chemicals and sensitive machinery
needed to rebuild missile and weapons production capacity.
“Iran exploits financial systems to sell illicit oil,
launder the proceeds, procure components for its nuclear and conventional
weapons programs, and support its terrorist proxies,” said Treasury Secretary
Scott Bessent.
The Treasury said it designated 12 vessels and their owners
or operators that it claims have collectively transported hundreds of millions
of dollars’ worth of Iranian petroleum and petrochemical products. Among those
listed were the Panama-flagged HOOT, accused of shipping liquified petroleum
gas to Bangladesh, and the Barbados-flagged OCEAN KOI and NORTH STAR, which
officials say moved millions of barrels of high sulfur fuel oil and condensate.
Other vessels cited include the Comoros-flagged FELICITA,
Iran-flagged ATEELA 1 and ATEELA 2, the Palau-flagged NIBA and DANUTA I, the
Vanuatu-flagged LUMA, the Panama-flagged REMIZ and GAS FATE, and the
Palau-flagged ALAA. U.S. authorities allege these ships transported Iranian
liquified petroleum gas, fuel oil, naphtha and grey ammonia to markets in East
Asia, Türkiye, Bangladesh and Pakistan over the past several years.
Beyond shipping, the Treasury also sanctioned nine
individuals and entities based in Iran, Türkiye and the United Arab Emirates
for allegedly facilitating procurement of chemicals and equipment for the IRGC
and Iran’s defence ministry.
Iran-based Oje Parvaz Mado Nafar Company was cited as a
producer of engines used in Shahed-series unmanned aerial vehicles. Turkish
companies Utus Gumrukleme Gida Tekstil Ithalat Ihracat Dis Ticaret ve Sanayi
Limited Sirketi, Arya Global Gida Sanayi ve Ticaret Limited Sirketi, and Altis
Tekstil Makina Ticaret Limited Sirketi were accused of acting as financial
intermediaries in related transactions.
The Treasury also named Iran-based Adak Pargas Pars Trading
Company and UAE-based Mostafa Roknifard Prime Choice General Trading LLC in
connection with alleged efforts to procure sodium perchlorate for Iranian
government-linked customers, including Parchin Chemical Industries.
Additionally, four individuals based in Iran were designated
for alleged ties to Qods Aviation Industries, an entity under Iran’s Ministry
of Defense. According to the Treasury, two employees traveled to Russia to
provide technical support for Mohajer-series drones, while two others traveled
to Venezuela for similar support activities.
Under U.S. sanctions rules, any property or interests in
property belonging to the designated individuals or entities that are in the
United States or controlled by U.S. persons are blocked and must be reported to
OFAC.
The Treasury noted that in 2025 alone, more than 875
persons, vessels and aircraft have been sanctioned as part of what it describes
as an ongoing pressure campaign targeting Iran’s energy exports and
weapons-related activities.
0 Comments