U.S. Continues Maximum Pressure with Sanctions Targeting Iran’s Shadow Oil Economy Fact Sheet

Today, the Department of State is sanctioning numerous entities, individuals, and vessels to reduce revenue that the Iranian regime uses to attack its neighbors, support terrorism abroad, and oppress its own people.  As part of this action, the Department of State is identifying eight vessels as property of eight entities involved in the transportation of Iranian petroleum or petrochemical products.  The Department of State is also designating three entities and an individual in connection with trade in Iranian-origin petrochemical products.

Repeatedly, the Iranian government has prioritized its destabilizing behavior over the well-being of its own citizens, as demonstrated by the regime's mass murder of peaceful protestors and attacks on its regional neighbors.  The United States will continue to act against the shippers and traders involved in the trade in Iranian crude oil, and petrochemical products - the regime's primary sources of income.

Concurrently, the Department of the Treasury is sanctioning an oil sales network that has facilitated the movement of tens of millions of barrels of Iranian oil, directly funding the IRGC, Iran's Armed Forces General Staff, and its military apparatus.  For more information about Treasury's actions, please see Treasury's press release.

All Department of State targets are being designated pursuant to Executive Order (E.O.) 13846, which authorizes and reimposes certain sanctions with respect to Iran.

Continued Targeting of Iran's Dark Fleet

The Department of State is designating eight vessel management companies for their involvement in the purchase, acquisition, sale, transport, or marketing of petroleum and petrochemical products from Iran.  We are also identifying eight vessels these companies own or manage as blocked property.  Iran's exports of these goods are conducted by shipping facilitators in multiple jurisdictions who load and transport illicit Iranian commodities to buyers in third countries with the vessels they manage.  While doing so, these vessels regularly engage in dark activity and other deceptive shipping practices, endangering other vessels and trade flows.

EVER SHINING LIMITED is the Hong Kong-based commercial manager and registered owner of the Palau-flagged chemical/oil products tanker MAYMEI (IMO: 9133082), which loaded petrochemical products from Iran in July 2024.  Additionally, EVER SHINING LIMITED owns and manages FLORA (IMO: 9133070), a Marshall Islands-flagged chemical/oil products tanker that loaded petrochemical products from Iran on at least 14 occasions since 2023. 

EVER SHINING LIMITED is being designated pursuant to Section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.  MAYMEI and FLORA are being identified as property in which EVER SHINING LIMITED has an interest.

HK YUANHANG SHIPPING LIMITED (HK YUANHANG) is the Hong Kong-based commercial manager and registered owner of YONGAN OCEAN (IMO: 9288758), a Panama-flagged chemical/oil products tanker.  YONGAN OCEAN loaded petrochemical products from Iran in July 2022, November 2024, and March 2025. 

HK YUANHANG SHIPPING LIMITED is being designated pursuant to Section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.  YONGAN OCEAN is being identified as property in which HK YUANHANG SHIPPING LIMITED has an interest.

SEAFOAM MARINE LTD (SEAFOAM) is a United Arab Emirates-based vessel commercial manager that has been involved in the transport of Iranian-origin crude oil on at least three occasions in 2025.

SEAFOAM MARINE LTD is being designated pursuant to section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran. 

CRYSTAL BLUE SKY INC (CRYSTAL BLUE) is the Marshall Islands-based commercial manager of ILL GAP (IMO: 9294305), a Panama-flagged crude oil tanker.  During CRYSTAL BLUE's tenure as commercial manager, ILL GAP loaded Iranian-origin petroleum on at least one occasion in 2025, and on at least one occasion in 2026.  ILL GAP also loaded illicit cargo on at least five additional occasions between 2025 and 2026.

CRYSTAL BLUE is being designated pursuant to section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.  ILL GAP is being identified as property in which CRYSTAL BLUE has an interest.

SYMPHONY SHIPPING AND MARITIME MANAGEMENT INC (SYMPHONY) is the United Arab Emirates-based commercial manager of HAUNCAYO (IMO: 9180164), a Comoros-flagged crude oil tanker.  During SYMPHONY's tenure as commercial manager, HAUNCAYO loaded Iranian-origin petroleum on at least two occasions in 2025 and 2026, and illicit petroleum on at least two separate occasions in 2025 and 2026.

SYMPHONY is being designated pursuant to section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.  HAUNCAYO is being identified as property in which SYMPHONY has an interest.

VANGUARD MARINE VENTURES INC. (VANGUARD MARINE) is the United Arab Emirates-based commercial manager of the San Marino flagged LPG tanker GAS NORA (IMO 8813116).  GAS NORA completed at least nine shipments of Iranian-origin petrochemical products during VANGUARD MARINE's tenure as commercial manager.

VANGUARD MARINE is being designated pursuant to Section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.  GAS NORA is being identified as property in which VANGUARD MARINE has an interest.

AGILITY SHIPPING LIMITED is the Hong Kong-based commercial manager of the Cameroon flagged crude oil tanker RCELEBRA (IMO 9286073).  RCELEBRA conducted three STS transfers for Iranian-origin crude oil from August 2025 to May 2026 in East Asia, including one transfer in January 2026 with the U.S.-designated tanker LONGBOW LAKE (IMO: 9237539).  RCELEBRA conducted two additional transfers of illicit cargo in September and October 2025.

AGILITY SHIPPING LIMITED is being designated pursuant to Section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.  RCELEBRA is being identified as property in which AGILITY SHIPPING LIMITED has an interest.

TRASTOK SHIPPING CO., LTD (TRASTOK SHIPPING) is the Marshall Islands-registered commercial manager of the Panama flagged crude oil tanker THEA (IMO 9298284).  THEA loaded approximately 400,000 barrels of Iranian-crude oil on August 26, 2025, in a ship-to-ship transfer with the U.S.-designated tanker LOTUS (IMO: 9203784).  THEA also transported six shipments of illicit cargos in November and December 2025.

TRASTOK SHIPPING is being designated pursuant to Section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.  THEA is being identified as property in which TRASTOK SHIPPING has an interest.

Sanctioning Traders of Iranian-Origin Petrochemical Products 

Today's sanctions action also targets three companies trading Iranian petrochemical products and one of their principal executive officers.  Companies like these provide valuable revenue for the Iranian regime, and the United States government will continue to target these buyers and exporters who help fund Iran's destabilizing activities.

CLASSY PANSY TRADING AND CONTRACTING WLL (CLASSY PANSY) is a Qatar-based petrochemicals trader, which exported over $1 million worth of Iranian-origin petrochemical products to various buyers in 2023 and 2024.

CLASSY PANSY is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran. 

ALT CAPITAL PTE. LTD. (ALT CAPITAL) is a Singapore-based company involved in the export of over $900,000-worth of Iranian-origin petrochemical products.  On October 15, 2025, the United Kingdom designated ALT CAPITAL for supporting Russia's defense sector or supplying equipment to Russia critical to Russia's defense sector.

ALT CAPITAL is being designated pursuant to Section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

RISHABH TRIEXIM LLP (RISHABH) is an India-based petrochemical trader, which imported approximately $54.6 million worth of Iranian-origin petrochemical products from multiple companies between February and August 2024.  SWAROOP JAYANTILAL BAGRECHA is an Indian national and resident, and designated partner of RISHABH.

RISHABH is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

SWAROOP JAYANTILAL BAGRECHA is being blocked pursuant to section 5(a)(vii) of E.O. 13846 as a principal executive officer, or person performing similar functions and with similar authorities, of RISHABH.

Sanctions Implications 

As a result of today's sanctions-related actions, and in accordance with E.O. 13846, all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of Treasury's Office of Foreign Assets Control (OFAC).  In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. 

All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt.  These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.

The power and integrity of U.S. government sanctions derive not only from the U.S. government's ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law.  The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.

Petitions for removal from the SDN List may be sent to: [email protected].  Petitioners may also refer to the Department of State's Delisting Guidance page.

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