US New Iran Sanctions Target Marine Insurers and Tankers

by Ship & Bunker News Team
Thursday July 30, 2026

The US has expanded its sanctions on Iran's maritime sector by targeting marine insurers and tankers linked to the country.

The latest measures form part of US’ ongoing efforts to disrupt Iran's shipping and energy networks and increase pressure on the country's petroleum exports, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) said on Wednesday.

The OFAC designated Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority, alleging they operated an insurance scheme that forced commercial vessels transiting the Strait of Hormuz to purchase regime-backed maritime cover.

According to the Treasury, the insurance purported to protect ships against risks such as vessel seizures, while generating revenue for the IRGC.

HormuzSafe was also accused of accepting payments in digital assets to help bypass sanctions.

The sanctions also cover eight tankers and their owners or operators accused of transporting millions of barrels of Iranian crude oil and petroleum products to destinations including China and the UAE.

The vessels are Well Sail, Lily, Al Salmi, Breeze V, Natsumi, Crystal, Nireta and Yehope.

The Treasury said it has sanctioned more than 100 vessels linked to Iran's shadow fleet since the start of 2026 as part of its campaign to curb the country’s oil revenues.

Ship & Bunker News Team
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